Correspondent

A pair of the nation's largest banks, Citigroup and Wells Fargo, made changes to their mortgage banking executive teams.

PennyMac Financial Services Inc. is setting up its new mortgage broker channel to target home-buyer and higher-balance loan segments, and eventually become one of the dominant players in the space.

JPMorgan Chase reported lower mortgage banking revenue in the fourth quarter as the returns from its servicing business declined from the previous year.

Mid America Mortgage's deal to acquire the assets of two Oklahoma City-based lenders will double the Addison, Texas, company's loan volume.

Walter Investment Management Corp. is looking to file for bankruptcy protection by Nov. 30, after lining up $1.9 billion of debtor-in-possession warehouse financing.

Impac Mortgage Holdings' nonqualified mortgage origination volume increased 248% year-over-year in the third quarter as the company accumulates loans for a planned securitization next year.

Ocwen Financial Corp. lost $6.1 million in the third quarter, as pretax losses from its origination business outweighed any profits generated from the servicing side.

Walter Investment Management Corp. was supposed to prosper by snapping up mortgage cast-offs from big banks at fire-sale prices. Instead, Walter is belatedly joining the list of companies burned by the U.S. housing crisis.

Quicken Loans Mortgage Services and Calyx Software developed a version of the Point loan origination system that's preconfigured with tools for small mortgage firms to work with the Detroit lender's TPO division.

Walter Investment Management Corp. is in danger of having its stock delisted from the New York Stock Exchange as its average market capitalization remains below required minimums.