Flagstar Bank

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.

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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.

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

Fercho will join Wells Fargo in August and report to Mike Weinbach, the bank's CEO of consumer lending.

Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.

Refinancing drove a 75% year-over-year increase in mortgage banking revenue during the first quarter at Flagstar Bancorp as it shored up its operations to avoid other negative repercussions from the coronavirus.

Two Harbors, a real estate investment trust, sold the bulk of its nonagency mortgage-backed securities portfolio to head off margin calls and refocus on its more favorable agency-MBS investments.

Flagstar Bancorp, one of the nation's biggest lenders to mortgage providers, has stopped funding most new home loans without government backing.

Mortgage lenders could benefit from the surge in refinancing due to widening market spreads, and that could help offset damage to servicing rights portfolio valuations, according to Keefe, Bruyette & Woods.

Flasgstar Bancorp's mixed results in its fourth-quarter earnings report are a sign strategic shifts it made to make its earnings less volatile are working.

The unexpected rise in refinancings during the third quarter affected mortgage industry business results in a mostly positive fashion for the period.

While no one is suggesting that the plan will help banks regain the share they've ceded to nonbanks, bankers believe that stabilizing Fannie Mae and Freddie Mac could at least help them keep what they have.

Flagstar Bank expects to recover $1 million of its loan to defunct reverse mortgage lender Live Well Financial following the sale of the collateral that secured it.

MGIC reported higher-than-expected earnings, seen as a positive for the other mortgage insurers, plus Flagstar and KeyCorp had strong quarters for their mortgage businesses.

Live Well Financial's creditors are seeking a court-supervised bankruptcy, but the mortgage lender is opposing the move, saying it can get more for certain assets if it sells them before filing.

Private-label mortgage securitizations with variable servicing fee arrangements could become more common going forward as issuers look to increase investor cash flow while reducing the loan servicer's economic exposure, Fitch said.

Even after integrating the 52 Wells Fargo branches acquired in December as part of its efforts to diversify beyond home lending, Flagstar Bancorp's first-quarter earnings were driven by increased mortgage revenue.

Commercial and multifamily lending lags the technology available in the residential market. A look at how one expert thinks the gap could be closed.