Nonbank

Employment estimates for nonbank mortgage companies rose to a 2019 high as lower rates spurred consumer demand in August, but higher rates in September could mean future numbers will be weaker.

Ginnie Mae's stress testing model was based on large issuers, and does not appear to adequately reflect important qualitative differences between larger and smaller issuers.

A mortgage company's dispute with Connecticut over what tasks a licensed loan officer needs to handle points to a potential compliance concern for direct and digital lenders seeking to maximize efficiencies.

The Federal Housing Finance Agency is ending a Freddie Mac pilot that posed a competitive threat to the private market for mortgage servicing rights financing.

Nonbank mortgage companies added 4,600 employees to their payrolls in July and may add more to address continuing rate-driven increases in loan volume.

Syracuse Securities Inc., a family-run lender and servicer in New York, is planning to wind down and transfer its outstanding pipeline to Premium Mortgage Corp.

Independent mortgage bankers reported their highest average profit per loan originated in almost three years, benefiting from a large drop in production expenses, the Mortgage Bankers Association said.

Ginnie Mae followed through with plans to look more closely at secured debt ratios in its latest round of new and revised issuer requirements.

Wide short-term swings in interest rates — and loan prepayments — that we've all witnessed have serious secondary effects on consumers, lenders, investors and also policymakers.

1st Alliance has ceased lending activities following the loss of bonding in Connecticut, plus financial concerns it links to a state regulatory dispute, but it may later seek to recapitalize.

The Federal Housing Administration program insured three-quarters of the mortgages obtained by millennial homebuyers as most had trouble saving up for a 20% down payment, a LendEDU study found.

June employment by nondepository mortgage bankers and brokers was little changed from the previous month, but later numbers could prove stronger given some influential lenders' interest in staffing up.

Removing Federal Housing Administration-insured mortgages with natural-disaster forbearance from the agency's delinquency tracking database would give investors a less-distorted view of loan performance, according to the Community Home Lenders Association.

Ginnie Mae is requesting feedback on a new proposed stress test for mortgage-backed securities issuers that would take into account the government agency's increased nonbank counterparty risk.

After months of backsliding followed by a modest increase in April, nondepository mortgage companies added 3,200 workers in May, as the overall job market gained steam.

Mortgage lenders might be feeling a little less stressed over False Claims Act actions being brought against them following recent headlines but there is still some work to be done before they can chill out.

LoanDepot will accelerate hiring initiatives in the third and fourth quarter as it plans to add 1,400 new jobs by the end of 2019. The company credits its technology efforts for the growth opportunities.

Quicken Loans claimed victory in its dispute with the Department of Housing and Urban Development over the False Claims Act, only paying the agency for losses incurred and interest.

Ginnie Mae is examining whether the shift in business to nonbank issuers has implications beyond the risks it has historically looked at, and identifying advantages that should be nurtured as well.

After a sustained downward trajectory, nondepository mortgage companies added 1,200 workers in April, a modest boost for lenders during prime season for the housing market.