Nonbank

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.

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.

A top Federal Reserve official is issuing a warning about fast-growing and largely unregulated shadow lenders: They were a big factor in why central banks had to save markets earlier this year, and much more needs to be done to assess the risks posed by the sector.

The lending giant's filing reveals what the company's internal structure will look like going forward.

A Detroit-based company, which owns Rocket Mortgage and Quicken Loans, listed the size of its upcoming offering in filing as $100 million, a placeholder amount that will likely change.

While the new employment numbers bode well for housing and loan performance in the short term, concerns abound regarding how the unemployment rate and furloughs could affect prospects for the business later.