Nonbank

The number of nonbank lenders and servicers that did not comply with the California Residential Mortgage Lending Act Annual Report requirements grew this year, prompting a reprimand and warning of penalties from the commissioner of the state's Department of Business Oversight.

The shareholders of Nationstar Mortgage Holdings and WMIH Corp. each voted to approve a $1.9 billion acquisition plan that will see the parent company of nonbank lender and servicer Mr. Cooper combine with the successor to S&L and subprime mortgage lender Washington Mutual.

Greg Englesbe resigned as CEO of New Jersey lender E Mortgage Management after a jury awarded $3 million to a woman who accused Englesbe of injuring her when he grabbed and forcibly kissed her at a Philadelphia restaurant.

Declining mortgage origination volume and record-high costs drove production income for independent mortgage bankers into negative territory, according to the Mortgage Bankers Association.

Seasonal hiring gave employment among nonbank mortgage lenders and brokers a boost in April and partially reversed an earlier decline despite growing signs of consolidation in the industry.

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.

In a move designed to recruit and retain high-quality origination staff and fuel its expansion plans, USA Mortgage is turning over 100% control of the St. Louis-based nonbank lender to its workers through an employee stock ownership plan.

Stephen Calk is in the national media glare because his small Chicago-based bank made two enormous loans to Paul Manafort, President Trump's onetime campaign manager. Here’s a look at Calk's career and how he ended up in this spot.

Nonbank mortgage firms are seeking formal assurance from the Consumer Financial Protection Bureau that they will not become subject to surprise audits or enforcement without involvement of a state regulator.

Treasury Secretary Steven Mnuchin said the Financial Stability Oversight Council will propose SIFI criteria before executing changes, and provided comments about the Volcker Rule, Orderly Liquidation Authority and housing finance.

The mortgage industry should expect significant volatility that could result in a wave of lender consolidation in 2018, warns an analyst at risk management technology vendor LoanLogics.