Countrywide Financial Corp., which is now the property of Bank of America, saw its wholesale originations plunge in the second quarter to just $6.76 billion, according to figures compiled by National Mortgage News. In the same quarter of 2007, Countrywide table-funded $23.4 billion in loans. (BoA bought Countrywide on July 1.) In the quarter ended June 30, just 11% of Countrywide's total originations came through loan brokers, compared with 18% a year earlier. In 2007, brokers accounted for 21% of Countrywide's residential fundings. The company can be found on the Web at http://my.countrywide.com.
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Newly minted Federal Reserve Chair Kevin Warsh will host his inaugural press conference on Wednesday. Bankers will be paying close attention to what he says — and how he says it.
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The Federal Housing Finance Agency's annual report to Congress asks for enforcement and referral powers beyond the limited ones it currently has.
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The deal reinforces PennyMac's AI-focused pivot and will also accelerate development and growth of its proprietary servicing platform, the lender said.
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Rithm and UWM Holdings are the favorite names among publicly traded lenders, while BTIG adds coverage of Better Home & Finance at a buy rating.
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The deal offers a series of exchangeable, class A and B notes, which will pay coupons ranging from 6.00% on the A1 tranche to 5.00% on the A33 tranche.
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This industry executive finds subservicing mortgages impacted by rule changes and relatively higher delinquency rates helps test operations and keep them sharp.
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