Correspondent

The Money Source is the latest mortgage company partnering with Ellie Mae to streamline workflows between lenders and correspondent investors through Encompass Investor Connect.

Wells Fargo Home Lending is tapping eOriginal to launch an electronic note program, marking a step forward for the mortgage industry's push toward a more digital process.

Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.

Gateway Mortgage's owners are acquiring the majority interest in Farmers Exchange Bank and will merge the lender into the Cherokee, Okla.-based depository.

Redwood Trust's net income was down 30% from the prior quarter as mortgage banking activities earnings fell by 60%.

Revisions to the TILA/RESPA integrated disclosure that go into effect this fall drove the changes Ellie Mae made in its latest update to the Encompass loan origination system.

A new round of expense reductions is getting underway at Nationstar Mortgage as the company moves toward its acquisition by WMIH Corp., a shell company holding Washington Mutual legacy businesses.

Overcapacity in the mortgage industry led to more competitive pricing in the first quarter, said Wells Fargo CEO Tim Sloan.

Citizens Bank's $511 million acquisition of Franklin American Mortgage will beef up the bank's servicing portfolio and diversify its origination business at a time when higher interest rates have put a damper on refinance volume.

Impac Mortgage Holdings generated almost $4 million in net income during the first quarter as it continued to downsize to adjust for origination declines and benefited from servicing gains.