Anupam Agarwal, CIO of Western Asset Mortgage Capital, noted: “Well, that unicorn doesn’t exist.”

Loan underwriters who claimed they were improperly classified as exempt and thereby wrongfully denied overtime pay lost on appeal after a federal appeals court determined they were administrative employees “helping run or service a business” as opposed to engaging in loan production. The ruling by the U.S. Court of Appeals for the Sixth Circuit stands in stark contrast to the Second Circuit’s 2009 opinion in a similar case, which held that underwriters are administrative workers who are eligible for overtime pay if they engage in production activities, industry attorneys said. In Lutz v. Huntington Bancshares, Inc., the bank’s underwriters primarily reviewed...

A day after the news broke that W.J. Bradley Mortgage has shut its doors, competition is heating up for some of its top loan officer and executive talent...

One observer had this to say about the firm closing: "They literally shut their doors ... no vacation time pay either..."

At last check, W.J. Bradley employed roughly 500 workers...

MorVest has represented only sellers of mortgage servicing rights, but that may change...

Mortgage M&A historians might recall that last decade, before the financial crisis struck, Countrywide Financial Corp. was in serious talks to buy PHH’s mortgage business...

Among the top 10 non-agency jumbo mortgage producers in 2015 just two are nonbanks: PHH Mortgage and Redwood Trust.

D’Urso is the second top executive to leave Clayton over the past six months. Another key departure came this past fall when Tom Donatacci left...

Sources close to D’Urso said his termination by Radian was a “total surprise” to him as well.