Financial institutions

Independent mortgage banks and mortgage subsidiaries of chartered banks managed to grow profits from the fourth quarter despite lower interest rates and production volume, according to the the Mortgage Bankers Association.

The second mortgage is on its way back, and some lenders could have an advantage in the competition for the piggyback loan business.

Rick Elmendorf's annual movie night — this year featuring the premier of the new Star Wars film — for his clients and business associates (along with their families) helps to create new referral relationships for this Washington Metro area loan officer.

Ocwen Financial Corp. in West Palm Beach, Fla., will lay off 120 employees as part of a plan to reduce costs.

Increased loan production during the spring home buying season has nonbank mortgage lenders stepping up their hiring.

The Federal Deposit Insurance Corp. has reached a $190 million settlement with eight large financial institutions over residential mortgage-backed securities claims as the receiver of five banks that failed during the crisis.

Craig Strent of Apex Home Loans saw potential in blending his mortgage banking services with the strategy of financial advising, finding strong partners and a niche in helping clients through one of life's most difficult transitions.

Recent legislative proposals to make piecemeal changes to the government-sponsored enterprises could set broader GSE reform on the wrong path.

Caliber Home Loans in Irving, Texas, has agreed to acquire Fairfield, Calif.-based First Priority Financial.

Staying on top of credit underwriting rules is essential for Rosalie Rains of Capital Financial Advisors, and when things get slow she can always turn to the two-color flier she made when she first started originating loans.

The secondary marketing agency wants to model how servicers' available cash might stand up to shocks because interruptions to that liquidity have been a common problem among those that failed.

ISGN Corp. has completed the sale of its business process outsourcing unit to Firstsource Group USA, a subsidiary of the Indian firm RP-Sanjiv Goenka Group.

From the Common Security Platform and Freddie Mac loan sales to new accounting rules and what direction mortgage rates are headed, there was plenty to debate during this week's MBA Secondary Conference in New York.

Ditech Financial will shift a St. Louis-area servicing platform to start doing new loan originations during the third quarter.

Joseph Chacko works with H1B visa holders in ethnic communities, and uses his knowledge of agency guidelines and immigration policy to offer foreign workers a place to put down roots.

Redwood Trust is broadening what kinds of prime jumbo mortgages it will accept and its appetite for non-qualified mortgages.

Stonegate Mortgage Corp. expanded its loss year-over-year following a decline in mortgage servicing rights assets.

Savvy salespeople live by the motto ABC: Always Be Closing. Here's a look at loan officers featured in the Top Producers Rankings who took that mantra to new heights by posting triple-digit increases in their annual mortgage origination volume.

HomeBridge Financial's Michael Stallings took a desire to help military veterans and grew that into a hearty business focused on bringing other veterans the cornerstone of homeownership.

Forecasters expect stronger originations in the second quarter as home buying outpaces refinancings.