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IMFnews

August 29, 2017

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Depositories Post Improvement in Mortgage Banking Income

In aggregate, banks and thrifts earned $3.72 billion from mortgage banking activities during 2Q17… Read More

New Online Lending Platform Hopes to Put Loan Officers Out of Work

“The NOLO platform allows customers to complete the mortgage lending process entirely online without the industry standard loan officer interference at each step,” 360 said. Read More

Clayton Launches Service to Help Issuers Enter the Non-Agency MBS Market

A growing number of mortgage lenders and aggregators are actively considering entry into the private label securitization market, says Clayton President Jeff Tennyson… Read More

A One-Year Moratorium on Mortgage Payments in Hurricane-Ravaged Counties?

Cowen & Co. predicts that storm damage caused by the hurricane could “encourage” lender consolidation… Read More

Promontory MortgagePath Hires Dealmaker Rudy Orman to Head Sales

Late last year, IBM bought Ludwig’s Promontory Financial Services advisory firm, but the former OCC chief kept two divisions: Promontory MortgagePath LLC and Promontory Interfinancial. Read More

Short Takes: Huge Changes Coming to FHA HECM Program / UWM Ponies Up More Money for Brokers / One is the Loneliest Number / Scrutiny for Industrial Loan Charters / AI CEO Resigns After 10 Years

So, how is the program doing? A spokesman for UWM said 40 firms were created with the first round of seed money and all are still in business. Read More

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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