At mid-year, Cenlar remained the largest subservicer in the land, but growing one’s book of contracts is getting more challenging. Meanwhile, PennyMac Financial wants to be a significant player. (Includes data table.)
More than a week after a Fed official outlined a planned re-proposal to adjust capital requirements for large banks, industry participants are still waiting for the formal document.
Borrower demand for home equity loans is expected to continue even as interest rates decline. Meanwhile, nonbank lenders are working to compete with depository institutions for the production.
The CFPB has 30 days to amend its complaint against Loan Originator Services as part of a fair lending lawsuit filed against a Texas-based developer and lender, Colony Ridge.
United Wholesale Mortgage faced a minor setback in its quest to have brokers account for 50% of mortgage originations. Both the retail and correspondent channels gained market share in the second quarter. (Includes six data tables.)
Federal regulators are set to re-propose Basel III capital requirements for large banks. Federal Reserve Vice Chair Michael Barr will recommend eliminating a proposed 20% risk-weighting add-on for mortgages.
Nonbank originations in the primary market appear to be on the upswing with just over three months to go in the year. That’s good news for warehouse providers, but another financier is departing. (Includes data table.)
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