Financial institutions

Minus various expenses including corporate, legal and servicing rights valuation, Ocwen had adjusted pretax income of $13.5 million.

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.

But current owner Blackstone and FOA management will keep 70% of the company after its merger with a SPAC.

If mortgage lenders need to learn anything from the pandemic, it is relying on a single source for any service could disrupt their activities.

There was an estimated total of 333,100 people on nonbank mortgage banker and broker payrolls in August, and that's the highest recorded since at least 2010.

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.

Mortgage lender loanDepot is taking steps toward rebooting plans for an initial public offering, about five years after scrapping one at the last minute, according to people with knowledge of the matter.

The only rational strategy for holding MSRs is to be very aggressive on protecting the servicing assets via loan recapture. This is one of the chief reasons that banks have been willing to give up their share in lending and servicing as they collapse back to retail-only lending strategies.

After being approved, retroactively denied and having a second application rejected, the firm is appealing the decision with federal regulators.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.