Origination

The bank holding the mortgage on a home owned by a Wichita, Kans. woman accused of embezzling millions from two physician-owned medical businesses and her estranged husband has stated foreclosure proceedings.

The $826.6 million transaction, GPMT 2018-1, represents about two-fifths of the $2.4 billion portfolio of the REIT, which was spun out of Two Harbors Investment last year.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney announced a trio of significant changes to the CFPB.

Flagstar Bancorp returned to profitability in the first quarter after tax reform caused a loss in fourth quarter, but its mortgage revenues dropped 15% due to margin compression and lower volume.

WEI Mortgage discovered a data breach from an email phishing scam last fall that may have exposed loan package information and identifying data such as Social Security numbers.

Though the number of homebuyers requesting house tours grew, those actually making an offer fell considerably, according to Redfin.

No individuals have been named in connection with the bank’s recent misdeeds, which resulted in a $1 billion fine, even as some senior leaders stand to gain from the government’s tax cut.

Home prices in 20 U.S. cities grew in February at the fastest pace since mid-2014, underscoring the persistent scarcity of inventory amid strong demand, according to S&P CoreLogic Case-Shiller.

The two credit unions have combined assets of more than $115 million and serve nearly 16,000 members.

New-home sales increased in March to a four-month high, mainly reflecting a surge in the West along with upward revisions to prior months that showed stronger first-quarter demand than previously estimated.