Are mortgage account executives overpaid?

Bank of America – the nation’s third largest residential originator – this week gave its mortgage loan officers an edict: start taking applications for auto loans as well. Going forward, mortgage loan officers will be known simply as “loan officers.” A BofA spokesman confirmed the changes to Inside Mortgage Finance, but cautioned that LOs will not be taking applications for checking accounts and credit cards, though referrals can be made to other divisions of the bank. BofA watchers, as well as the bank’s competitors, were scratching...

In the past, Caliber Home Loans has been mentioned as a possible buyer of other firms...

The $185.0 million settlement Wells Fargo agreed to in early September regarding retail banking sales practices has impacted the lender’s mortgage operations, according to bank officials. Timothy Sloan, Wells’ president and CEO, said mortgage referral activity declined significantly after the settlement was announced. “Mortgage referrals from retail banking, which account for 10.0 percent of our year-to-date mortgage originations, were down 24.0 percent from August to September,” he said during Wells’ recent earnings call. Sloan noted...

After HomeBridge buys the Sherman Oaks, CA-based lender, the Prospect Mortgage name will disappear, said CEO Peter Norden.

During his career, Cotton has worked for Freddie Mac, Bank of America and Sterling Savings Bank, among others.

The CFPB also found that some banks used employees from a staffing agency who were not properly registered or licensed...

The Cato Institute said the former Freddie executive Anthony “Buddy” Piszel consistently received exemplary performance reviews and was cleared of any wrongdoing…

Are nonbanks 'shadow' institutions, and if so, is that a bad thing?

Fannie Mae and Freddie Mac should post stellar third quarter results. Here's why...