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.

There is substantial doubt about Walter Investment Management Corp.'s ability to continue as a going concern if a restructuring plan is not approved and it needed to file a prepackaged bankruptcy plan.

Ocwen Financial Corp. recorded a $44.4 million net loss in the second quarter related to its court battles and other expenditures, including costs related to its exit from correspondent lending.

Home Point Financial Corp. has formed an Institutions Group to bring the correspondent, capital markets and warehouse lending teams under one umbrella.

American International Group Inc. could securitize through a unit it has previously used to buy jumbo loans.

Optimal Blue, a mortgage technology provider owned by private equity firm GTCR, has acquired Comergence Compliance Monitoring.

David Schneider has joined Stearns Lending as its chief executive officer, replacing Brian Hale, who will be leaving the company at the end of the month.

Walter Investment Management Corp.'s first-quarter net income included a $42 million after tax gain from the sale of Green Tree Insurance Agency.

Shellpoint is marketing another offering of private-label mortgage bonds backed primarily by loans it acquired rather than loans originated by its own New Penn subsidiary.

Walter Investment Management Corp. narrowed its fourth-quarter losses, as disappointed CEO Anthony Renzi called the nonbank lender and servicer's third consecutive annual loss "not acceptable."

Freddie Mac is preparing a transaction that transfers credit risk on $640 million of super-conforming residential mortgages.