Atlantic Bay Mortgage Group and Virginia Community Bank have agreed to back out of a merger that would have been a rare instance of a nondepository lender acquiring a depository institution.

Gateway Mortgage's owners are acquiring the majority interest in Farmers Exchange Bank and will merge the lender into the Cherokee, Okla.-based depository.

Zillow Group is moving from being a mortgage marketer to originating loans with its acquisition of Mortgage Lenders of America, in an effort to support its home-flipping business.

PHH Corp. remained above the adjusted net worth and cash requirements for the company's proposed acquisition by Ocwen to take place, even though it lost $35 million in the second quarter.

Xome acquired Assurant's Mortgage Solutions unit one day after its parent company Nationstar was bought by the shell company of the former Washington Mutual.

Most Nationstar stockholders other than a Fortress affiliate are voting to accept a shares rather than cash as a shell company holding Washington Mutual legacy businesses acquires the company.

Ocwen Financial took nearly a $30 million net loss in the second quarter due to expenses ahead of its PHH Corp. acquisition that outpaced its mortgage servicing profits.

The March acquisitions of a warehouse lending portfolio and eight California bank branches helped fuel a 22% increase in net income.

American Mortgage Consultants has acquired the right to hire 50 employees from The Barrent Group and will add 150 more in response to increased private-label securitization.

A new round of expense reductions is getting underway at Nationstar Mortgage as the company moves toward its acquisition by WMIH Corp., a shell company holding Washington Mutual legacy businesses.