The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale.
David Spector, the firm's CEO, touted Pennymac's technology, consistency and support for the broker channel.
Third-party origination operations are also going to Mr. Cooper in the $1.4 billion deal, in which the seller cited interest in improving its capital position.
In a relatively mild oversight hearing in the House Financial Services Committee Tuesday morning, regulatory heads at the Federal Reserve, Office of the Comptroller of the Currency, National Credit Union Administration and Federal Deposit Insurance Corp. outlined plans for reduced capital requirements and debanking enforcement.
Rachael A. Wagner is a partner at Atairos, a New York-based investment firm. She is a director on the boards of several companies.
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The latest case comes after at least three other zombie lawsuits in the past year, with the owner of the loan in question claiming $173,000 in past-due interest.
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Newer automation that can serve as a wraparound to existing technology can cut servicing costs in a competitive industry, according to fintech executives.
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The age at which people purchase their first home has climbed rapidly since 2021, when the median was 33, according to a National Association of Realtors survey of transactions from July 2024 through June.
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Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said she wants banks to be competitive in the digital assets space, provided those operations are siloed from the traditional finance side of the business.
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A new look is coming to the National Mortgage News homepage, writes Editor-in-Chief Heidi Patalano
- Daily BriefingDelivered Every WeekdayIdeas that impact your business delivered to your inbox every day.
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- Technology BulletinThursdayA roundup of the latest headlines and opinions on the mortage technology sector.
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Banks should not point blame at the credit bureau but rather should step up and demonstrate their commitment to their customers. If you punt the problem to Equifax, it suggests you don’t really care.
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Everybody say it with me, “Customer data is a liability.” And the Equifax breach shows why.
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In a deregulatory environment, a rule that better enables consumers to bring class actions could lead to an explosion of litigation, which will affect product availability and pricing.
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ON-DEMAND VIDEOMonetary policy remains the key to the markets. The Federal Open Market Committee predicts one rate cut in 2026, but the panel will get a lot of data before
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ON-DEMAND VIDEOWith the government reopened and data flowing, the FOMC may cut rates again in Dec. Steve Skancke, Chief Economic Advisor at Keel Point, will break down the mee
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ON-DEMAND VIDEOWill the Federal Reserve cut rates in October? BNP Paribas Chief U.S. Economist James Egelhof discusses the meeting and Chair Jerome Powell's press conference.
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