Financial institutions

The president and founder of a now-defunct Massachusetts-based mortgage company was charged with defrauding Ginnie Mae to the tune of $3 million.

Online lender LoanDepot has raised $150 million in term debt financing as part of its capital strategy.

Sterling Bancorp of Montebello, N.Y., has sold its mortgage business to Freedom Mortgage of Mount Laurel, N.J., for an undisclosed price.

Starkey Mortgage's Eric Glick prides himself on the dedication he brings to educating borrowers about a broad spectrum of topics. His approach starts by making sure he stays current on the latest industry trends. Here's how.

New Residential Investment Corp. has priced a public common stock offering whose proceeds will be used to acquire mortgage servicing rights from Walter Investment Management Corp.

Morgan Stanley has completed $10.5 million in consumer relief, according to the independent monitor of the company's mortgage-backed securities settlement with New York State.

Walter Investment Management Corp. lost $232.4 million in the second quarter as the company took $216 million in charges related to its mortgage servicing portfolio.

Deval LLC in Dallas has received Fannie Mae servicer approval.

Independent mortgage banking and brokerage firms added a whopping 5,900 full-time employees to their payrolls in June, according to a report issued Friday by the Bureau of Labor Statistics.

Fair market value adjustments to mortgage servicing rights will continue to put downward pressure on earnings throughout the rest of 2016, according to Kroll Bond Rating Agency.

What does a Top Producer look like? Like anything else, there is no singular representative. Marketing strategies span everything from billboard and television ads to movie events and bobble-head giveaways. Many focus on one state for business while others cover as much land as possible. One thing that binds them as the most successful in their field: help. From family and friends to outstanding teammates to mentors and coaches, every Top Producer acknowledged they could not have reached the level they have without support.Here, by the numbers, are six characteristics that make up the class of 2016 Top Producers.

Fairway Independent Mortgage Corp. has launched an employee stock ownership plan.

Walker & Dunlop's net income increased 59% year-over-year during the second quarter, as the company saw growth in its commercial mortgage origination volume.

From working with homebuyers and seeing them through various milestones like raising a family, loan officer Dianne Crosby is in awe of the role she plays in helping clients reach their goals.

Ocwen Financial Corp. is marketing $500 million of notes backed by reimbursement rights to funds it has advanced on residential mortgages that it services.

In a political season teeming with tension around income inequality, racial economic disparities and animus toward the banking industry, reforming the Community Reinvestment Act seems like it should be a cornerstone of the debate. Yet the law has been almost entirely absent from the discussion. Here's why.

Mid America Mortgage in Addison, Texas, has executed its first electronic closing and e-note through its retail origination channel. The closing builds on the company's plan to expand e-closings and e-notes across all of its origination channels.

Guild Mortgage and FirstREX are lifting the curtain on a down payment investment program.

By investing time early on with clients who may not be immediately ready for a mortgage, loan officer Becky Sandiland establishes relationships that generate future business.

Ocwen Financial Corp. posted yet another net loss during the second quarter, this time reflecting the impact of legal and settlement costs among other factors.