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The platform, built off a recent acquisition, looks to create efficiency in the growing wholesale lending market.

The transaction could raise as much as $306 million in gross proceeds.

While overall volume was down in August, it remained historically strong, particularly in the securitized market for home equity withdrawal loans made to borrowers age 62 and up.

The biggest issues facing the mortgage industry involve public policy and all of them feature a political narrative that is ill-informed and largely at odds with market realities, Whalen writes.

The Office of the Comptroller of the Currency made good on a promise to rescind Community Reinvestment Act reforms finalized by ex-Comptroller Joseph Otting as part of talks with other regulators on an interagency overhaul of the law.

Home sales to the top four iBuying companies more than doubled in Southern California this past spring, jumping 123% from the quarter before to an all-time high of 789 homes, a Zillow analysis shows.

From 2016 to 2019, the Long Island man stole from Home Point Financial, LoanDepot and United Wholesale Mortgage, and faces 30 years in prison.

The White House and the Federal Housing Finance Agency announced steps to help nonprofits and public agencies buy foreclosed properties, among other initiatives, as part of a plan to boost supply over the next three years.

The Office of the Comptroller of the Currency is seeking nearly $19 million from David Julian, Claudia Russ Anderson and Paul McLinko. The trial before an administrative judge is scheduled to begin in South Dakota on Sept. 13.

The Federal Housing Finance Agency in the Trump administration had been preoccupied with Fannie Mae and Freddie Mac’s capital position. Acting Director Sandra Thompson has shifted the agency’s focus to affordable housing and fair lending.

Infrastructure will command most of lawmakers’ attention, but expect banks to keep pushing for bills that would ease the transition away from a key benchmark rate and help them serve legal cannabis businesses.

The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

This year's assessment for Fannie Mae and Freddie Mac is the first to take into account a January agreement between the Federal Housing Finance Agency and the Treasury Department that allowed the companies to retain more earnings.

The guarantor of mortgage-backed securities has been without a Senate-confirmed president for four and a half years. The vacancy makes it difficult for other government agencies to coordinate housing objectives, according to stakeholders.

The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.

In assuming that credit unions have the same risk profile as nonbank lenders, the mortgage insurer is now threatening to exclude nearly a quarter of them from being qualified issuers of the securities it backs, writes the Senior Director Of Advocacy and Counsel at the Credit Union National Association.

The acquisition of Florida-based Service Finance Co. would expand the North Carolina bank’s presence in the point-of-sale lending business.

Tight inventory and heightened competition kept prime purchasers at bay as property values continued their summer surge, according to Fannie Mae.

As people more heavily use exchanges and other providers of digital-asset-related services, they're registering more beefs with the Consumer Financial Protection Bureau, too. Experts say it's only a matter of time before the agency invokes its broad authority to police the sector.