Financial institutions

An agency report said servicing portfolios have shrunk by nearly half in 10 years as much of the mortgage market has shifted to nonbanks.

The number of workers employed by non-depository mortgage companies experienced a typical seasonal drop month-to-month, but employment remained higher than a year ago due to the persistence of competitive hiring practices.

The CFPB ordered Village Capital & Investment in Henderson, Nev., to issue refunds and pay a penalty for allegedly misrepresenting the cost savings in a refi product.

Consolidation is coming in the mortgage industry, but a protracted timetable will continue to constrict industry profits.

Hometown Lenders Inc. will acquire TotalChoice Mortgage in a move to expand its geographic footprint and meet its goal of growing annual originations from $1 billion to $5 billion.

Third-quarter profitability fell to 2008 levels in the Mortgage Bankers Association's latest report, suggesting the seasonally slower fourth quarter could be particularly challenging this year.

Altisource Portfolio Solutions plans to discontinue its buy-renovate-lease-sell business for single-family homes and sell its short-term inventory in order to cut costs and repay debt.

Ginnie Mae is adding steps to its process for evaluating new issuers, including new notification requirements related to subservicer advances, servicing income, and borrowing facilities secured by mortgage servicing rights.

FDIC Chairman Jelena McWilliams questioned whether regulators and banks are fully capturing the emerging risks of a new shadow banking system.

The move allows the New York multifamily lender to make more loans without having to raise capital.

If falling volume and rising costs weren't bad enough for nonbank mortgage lenders, an extended run of tight gain-on-sale margins is further eating into their profits.

Ditech Holding Corp.'s stock is being delisted from the New York Stock Exchange, and the company is recommitting itself to finding an acquirer or other option that could improve investor value.

The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head.

Hiring by nonbank mortgage lenders and brokers ebbed in September as the housing market prepares to pack it in for the colder months.

A deal between TD Bank and a Vermont nonprofit is just one example of how banks are getting creative in addressing affordable housing needs while reaping financial and regulatory benefits.

The company is facing criticism after a big chargeoff on two properties, showing that investors have little patience when a risky business model shows signs of distress.

New York developer Silverstein Properties Inc. built a $4 billion pipeline of real estate deals just weeks after starting. None of the money was for buildings it will own.

The Portland, Ore, company also benefited from lower expenses and an improved efficiency ratio.

Hiring by nonbank mortgage lenders and brokers reversed course again and got slightly higher in August as originators made a last-ditch effort to reach seasonal homebuyers before fall.

The senator’s bill to reform the 40-year-old law and expand housing investments could gain clout as Democrats look to pick up congressional seats and she eyes a presidential run.