Origination

Prospect Mortgage entered a $3.1 million settlement with California regulators for overcharging mortgage borrowers per diem interest over a seven-year period.

Thousands of lenders post oceans of data each year to meet Home Mortgage Disclosure Act obligations. There may be more reporting requirements coming. Will the value of the new transparency outweigh the added compliance burden to lenders?

This tops a previous bid for the parent of mortgage warehouse provider Southwest Securities by $1 per share.

A jury found a particular loan officer was exempt from minimum wage/overtime requirements because her work involved "outside sales," but the case's decision fails to broadly apply to all LOs.

Confidence among homebuilders plunged in February by the most on record as bad weather limited prospective buyer traffic and depressed sales.

Ben Anderson is the early leader among survey respondents, with volume of $201 million in 2013.

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The mortgage tech vendor is trying to maintain profits by signing and upgrading customers. The headwinds it faces reflect broader industrywide challenges: lower origination volume and new compliance requirements.

A Tampa homeowner is suing Bank of America and U.S. Bancorp, claiming that the banks delayed processing his mortgage payments in order to earn extra interest for themselves.

Bank of America is cutting 450 mortgage jobs from West Coast offices after new loans fell short of internal forecasts, two people with direct knowledge of the plans said.