David Schneider, CEO of Vericrest Financial, a fast growing servicer that is rumored to be a bidder on Ally Financial’s $122 billion of mortgage servicing rights, has left the company, sources familiar with the situation told Inside Mortgage Finance. Schneider could not be reached for comment at deadline. A spokeswoman for the company would not comment on the situation but would not deny his departure either. Schneider has been building bridges in the servicing community…

City National Bank of Los Angeles is entering the mortgage warehouse business.

National MI, the Emeryville, CA-based mortgage insurer started by former executives at The PMI Group, has yet to write its first policy, but may soon.

PHH Mortgage and an affiliate have renewed a $450 million warehouse line with Wells Fargo Bank, N.A. for another year but reduced another facility it had with Barclays Bank PLC, according to a recent filing with the Securities and Exchange Commission.

Pacific Premier Bank, Costa Mesa, CA, is looking for a new warehouse lending executive to replace Bill Owen, who departed the company a few weeks ago.

New Penn Financial, which is barely six years old, hopes to end 2012 with $5 billion in originations – almost double of what it funded a year ago.