Norton Wells, senior vice president of Bank of America’s mortgage resolution team, has left the company, industry officials confirmed to Inside Mortgage Finance.
Now that mortgage insurance claims are waning, and new business is on the rise again, there’s increasing talk that Essent Guaranty might file papers to go public this year.
JPMorgan Chase is joining the ranks of banks laying off loan review staff now that they’ve settled their foreclosure cases with the Comptroller of the Currency and the Federal Reserve.
What We’re Hearing Certain mortgage bankers are using a four-letter word to describe the trifecta of “final” regulations unveiled by the CFPB the past two weeks, and as you might guess that word isn’t “love.” The rules – servicing, qualified mortgages and loan originator compensation – will shape the industry for years to come... plus other mortgage industry happenings.
Real Estate Mortgage Network is on the verge of launching a new correspondent division what will use the trade name HomeBridge, a company official told Inside Mortgage Finance.
Bank of America, which is in the process of selling roughly $308 billion worth of mortgage servicing rights, recently trimmed its servicing staff by at least 700 workers...
Envoy Mortgage, a privately held nonbank, is the latest lender to jump into the correspondent lending arena. On Wednesday the firm issued a statement saying it has hired two industry veterans – Dan Hastings and Todd Cheney – to build and run the new division. Formed in 1997, Envoy has been a retail-only lender funding in 48 states… Plus other mortgage news briefs.
The Obama administration may want to think twice before moving ahead with reported plans to replace Edward DeMarco, the Federal Housing Finance Agency’s acting director, says a long time industry observer.
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