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Wells Fargo & Co. has promoted Carmen Bell to senior vice president of its mortgage default servicing unit.

JPMorgan Chase has appointed a new head of mortgage servicing to replace Mike Weinbach, who recently stepped down from the role to become the chief executive of mortgage banking.

Mortgage professional hiring and new job appointments for the week ending Jan. 8.

While it searches for a permanent deputy director, the Consumer Financial Protection Bureau has named David Silberman to serve as its acting No. 2 starting next week.

Owens Realty Mortgage has promoted its chief financial officer, Bryan Draper, to chief executive and president.

KeyCorp is hiring Royal Bank of Canada's head of mortgage-bond trading, Joe Vaccaro, and structured products salesman Mike Corsi as the regional lender expands its bond business, according to three people with knowledge of the matter.

The more aggressive nonbank lenders are attracting top producers by essentially allowing loan officers to set their own rate of pay. While so-called "pick-a-pay" compensation plans are not illegal, critics say they can encourage loan officers to steer consumers into more expensive loans in order to increase their own pay.

As the mortgage industry begins the New Year, National Mortgage News takes a look at the biggest trends and topics that will shape 2016.

The Sarbanes-Oxley Act of 2002 is important, but it barely scratches the surface of former House Financial Services Committee Chairman Michael Oxley's impact on banking.

National Mortgage News is pleased to begin accepting submissions for the 2016 Top Producers, an annual ranking of mortgage loan officer and broker origination volume.