Origination

Unlike in personal loans, where Lending Club saw an opportunity to lower the cost of consumer credit card debt, in mortgages, the play is not in providing lower-priced credit, but rather in removing friction, Renaud Laplanche says.

Most real estate agents and home builders have heard about the new mortgage disclosures that take effect Oct. 1 but are light on the details, and many of the lenders they rely on lack sufficient understanding to help them.

Lenders said the delay in implementing the combined loan and closing disclosures is giving them valuable added time to train their staff, according to a DocuTech survey.

Freddie Mac has launched its first securitization of small-balance loans on multifamily properties. The 44 mortgages backing the $108 million of SB1 Certificates are underwritten by Freddie Mac and originated by Greystone Servicing Corp.

Regardless of recent activity, marketing services agreements can be legal if lenders find the proper formula to follow.

CIT Group has completed its acquisition of OneWest Bank in Pasadena, Calif.

Fidelity National Financial has recapitalized ServiceLink Holdings, increasing its ownership in the transaction services company.

Investors Bancorp reported higher second-quarter profit on expanded multifamily, commercial real estate and business lending, as well as lower expenses.

Mortgage professional hiring and new job appointments for the week ending July 31.

AssetAvenue, a marketplace lender that specializes in commercial real estate finance, announced that it has hired Peter Coleman as its chief financial officer.