Financial institutions

The relationship a loan officer took several months to cultivate can be destroyed by your servicing area in just 10 minutes, affecting potential referrals or future business. Here are a few ways you can avoid that.

Deval, a loan servicing company in Dallas, has received its Freddie Mac servicer approval.

The Federal Housing Finance Agency will require nonbank mortgage firms to meet minimum liquidity and net worth standards to curb risks to taxpayers from the rapidly expanding industry.

Before the Dodd Frank Act went into effect in 2010, the residential mortgage market was in an entirely different state — particularly in regards to servicing. Several large servicers dominated the market, but ultimately shed most of their servicing assets, creating a substantially large segment of midsize servicers.

California's Department of Business Oversight said Friday that it will drop its effort to suspend Ocwen Loan Servicing's mortgage license in California. The Atlanta servicer had failed for more than a year to provide its California regulator with requested information

Freedom Mortgage will hire 500 additional employees to accommodate an anticipated increase in Federal Housing Administration refinance and purchase transactions.

Earnings at Discover Financial Services plunged by 33% in the fourth quarter, largely due to a charge tied to the firm's mortgage business and a previously announced revision to its flagship credit card program.

Ocwen Financial Corp. named two new members to its board of directors as the nonbank servicer works to repair its image in the eyes of regulators and investors.

New residential construction in the U.S. rose more than forecast in December, capping the best year since 2007 and signaling the industry will probably keep expanding this year.

Mortgage brokers and nonbank lenders who operate outside the reach of federal bank regulators are thriving in Canada after the country introduced a half-dozen mortgage rules since 2008 to cool its soaring home prices.

Movement Mortgage, with more than 1,600 employees, will build a new national headquarters at the Bailes Ridge Business Park in Indian Land, S.C.

Altisource Portfolio Solutions promoted John Vella to the new position of chief revenue officer in a bid to grow beyond its relationship with embattled former parent Ocwen Financial.

The Ocwen spinoff Altisource Portfolio Services delivered notices to more than 800 employees and hundreds of contractors this week as part of the company's scramble to reassure investors.

Mortgages for Gulf War veterans have more than tripled since 2008, which along with a spirited outreach program and the post-crisis credit squeeze, has helped fuel a steady increase in Department of Veterans Affairs lending.

Mortgage-focused real estate investment trusts, including those affiliated with Western Asset Management and Pine River Capital Management, are backing loans to Americans who don't meet banks' requirements.

Ares Management LP won a $700 million commitment to invest in U.S. commercial real estate for a life insurance client.

Facing the prospect of losing its license in California, Ocwen would be wise to settle its probe by state regulators in a timely manner, observers said. If it doesn't, the mortgage servicer could lose significant revenue and might even face a cash crunch.

Ocwen Financial Corp., one of the biggest U.S. mortgage servicers, fell the most ever after a newspaper reported that California is seeking to suspend its license.

Freddie Mac in the next month plans to approve three more lenders, including one bank, to make multifamily loans between $1 million and $5 million for GSE purchase and securitization, according to an official. Banks were not initially courted.

Lenda, a new mortgage company backed by Silicon Valley investors, wants to supplant the traditional loan officer with consumer self-service technology.