Flagstar Financial

The Troy, Michigan-based bank is looking for companies already innovating across the various aspects of the home finance business.

For a lot of IMBs facing shrinking backlogs and falling secondary market spreads, the attraction of hitting a bid and taking the easy way out via an acquisition may become irresistible, writes Chris Whalen.

Despite falling from quarter to quarter, Flagstar’s mortgage revenues remained strong, while its servicing portfolio grew.

The Michigan bank is the latest company to have customer data compromised through a software vulnerability. The incident reinforces the importance of attack simulations, constant searches for intrusions and exchanges of intel with peers.

Despite that decline, the company notched its second-best quarterly earnings ever over that period.

Startups Home Lending Pal, RealKey and Stavvy will get access to experienced mentors and potential customers over three months as a part of the program.

The Flagstar MortgageTech Accelerator program was designed to give qualified fintechs access to experienced mentors and potential customers. Applicants also may obtain access to seed capital funding.

Plus: mortgage credit availability hits 6-year-low and Ellie Mae and ICE Mortgage change leadership

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

Perry Hilzendeger’s new role as president of mortgage servicing for Home Point Financial is in line with a previous role he had, and follows broader executive changes at Wells.