Financial institutions

The resignation of Stonegate Mortgage founder and CEO Jim Cutillo will likely result in either the quick hiring of a replacement CEO to execute Stonegate's business plan or the company being acquired, according to analysts at FBR Capital Markets.

Residential mortgage servicers are once again tapping the securitization market to fund advances to bondholders for the first time since April 2014.

Walter Investment Management has received approval from Freddie Mac to hold the mortgage servicing rights on $3.3 billion in residential mortgage loans.

Blackstone Group has acquired a majority stake in the parent company of nonbank mortgage lender Stearns Lending.

Banks have ramped up foreclosure activity in the past five months, with default notices, scheduled auctions and bank repossessions at their highest levels in two years. It's a positive sign that banks are finally clearing out all the distressed loans still lingering from the housing crisis. Meanwhile, banks remain cautious about new lending, partly because of regulatory actions.

Sabal Financial Group has put a $541 million portfolio of real estate loans up for sale.

In 1979, mortgage bankers worried that they could be undercut by "sleeping giants" like Merrill Lynch, Sears Roebuck and what was then called Master Charge.

Consumers' growing confidence about their ability to qualify for a mortgage is generating more foot traffic, sales orders and loan volume for some of the nation's largest homebuilders.

New Residential Investment Corp., real estate investment trusts, residential mortgage bonds, mortgage servicing rights

Walter Investment Management in Tampa, Fla., said its second-quarter loss widened, as it recorded a goodwill impairment charge in its reverse mortgage division.

PennyMac Mortgage Financial Services reported a rise in income on higher servicing and origination revenue.

PHH Corp. reported losses of $62 million for the second quarter, driven by major increases in operating expenses and a $46 million loss in the servicing segment.

M&T Bank's disclosure that it is in settlement talks with the Justice Department for not complying with underwriting guidelines on FHA loans has renewed fears that more lenders will be targeted.

United Wholesale Mortgage has introduced software to help brokers and correspondents close loans faster.

Employment in the mortgage banking and broker sector has grown 5.8% since June 2014.

Competition among lenders has been good for homebuyers.

Walker & Dunlop reported a higher second-quarter profit, citing gains from mortgage banking and servicing fees.

Capital One Financial is in exclusive talks with General Electric to buy the company's health-care finance unit, people familiar with the matter said.

Stonegate Mortgage reported a large increase in second-quarter profit on higher originations and a larger servicing portfolio.

NorStates Bank has selected HomeBridge Financial Services to provide origination of residential mortgage loans.