The news that the privately held Prospect Mortgage of Sherman Oaks, Calif., has hired industry veteran Amy Brandt to head its foray into both servicing and correspondent lending should surprise no one. Brandt is a well respected mortgage manager who knows the business inside and out. Her ascension there is just another signal that nonbanks see a major opportunity in residential finance – despite all the talk of how Basel III
The industry leaders are sparring over refinance business from a Mr. Cooper portfolio, and UWM contends it didn't specifically try to harm its rival.
The trade group supports FHFA's overhaul but urges longer comment periods, more flexibility and protections to prevent unintended consequences.
The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
