Nonbank

While employment typically ebbs as home buying slows in the fall, several nonbanks have ambitious hiring plans in the works, which call for them to add thousands of workers by year-end.

But federal elections and the pandemic make projections on the sustainability of industry profitability especially tricky.

The new reality for investors and originators accounts for forbearances and ability-to-repay.

A proposal to expand consumer protections in the state was added to a budget bill after being dropped in June. Financial institutions say the measure conflicts with federal law and are working behind the scenes to stop it.

The rising number of positions appears to reflect an ongoing need to adjust capacity to address rate-driven demand.

After an initial fizzle, the stock at one point was trading above the original expected price range.

The company, which launched last fall, announced a partnership with an organization that aids military families.

The company lost $8.9 million in the second quarter, but its origination and servicing businesses were profitable.

The consumer agency alleges Townstone Financial's CEO and president made statements on a radio show discouraging applicants living in Black neighborhoods from seeking home loans.

Any intention that Ginnie Mae may have had to slow prepayment rates by changing the rules on RPLs seems to be thwarted by the grim economic reality facing the big banks.