Nonbank

Citizens Bank's $511 million acquisition of Franklin American Mortgage will beef up the bank's servicing portfolio and diversify its origination business at a time when higher interest rates have put a damper on refinance volume.

Originations and margins are thinning, and there will be mortgage banking firms that don't make it through this year, but after that, the numbers may look better.

Nationstar Mortgage has agreed to refund or reverse more than $1 million in inspection fees, settling allegations by Maryland officials it illegally charged homeowners.

Nationstar Mortgage may face a Consumer Financial Protection Bureau enforcement action over alleged violations of the Real Estate Settlement Act and other regulations, the Mr. Cooper parent company said.

Freddie Mac has quietly started extending credit to nonbanks that issue mortgages, a move it says will help the companies maintain access to a crucial stockpile of cash if their home loans go sour.

Employment among nonbank mortgage lenders and brokers fell in March, erasing the unexpected gains in the previous month.

Employment in the nonbank mortgage lender and brokerage sector unexpectedly rose in February after several months of layoffs.

As tight housing inventory continues challenging prospective borrowers, Newfi Lending has launched a new portfolio lending platform in an effort to make homeownership more attainable.

Employment in the nonbank mortgage lender and brokerage sector is falling in the face of rising interest rates and the limited supply of homes for sale.

Today's mortgage broker is tech savvy, sophisticated and better equipped to thrive in a wholesale channel that's far more competitive than in the past.