Nonbank

The Trump administration has implemented an apparent role reversal for the Financial Stability Oversight Council, leaving the true intended role of the post-crisis systemic risk body unclear.

While many mortgage lenders focus on updating the front end of the borrower experience, other lenders are making strides on the back end of the process with new electronic closing capabilities.

Nondepository mortgage bankers and brokers employment dipped slightly in July, ending a four-month run of hiring pickups.

The nonbank lender and servicer's long-awaited rebrand comes along with wholesale changes across its entire operation to better emphasize the customer experience.

Walter Investment Management Corp. is in danger of having its stock delisted from the New York Stock Exchange as its average market capitalization remains below required minimums.

Critics of recent False Claims Act enforcement argue the Justice Department is too heavy-handed toward lenders and servicers. But in an industry reputed for shoddy processes during the crisis, perhaps stringent oversight is warranted.

PHH Corp. will pay the Justice Department $75 million to settle a False Claims Act investigation of its underwriting practices on government-insured mortgages and loans sold to Fannie Mae and Freddie Mac.

The year opened with hopes that regulatory and enforcement pressures would abate for the mortgage industry. The reality has turned out quite differently.

The nonbank mortgage sector had its largest one-month employment gain in a year, as independent mortgage bankers and brokers enjoyed stronger-than-expected originations during the second quarter.

Banks pay their loan officers less than independent mortgage bankers do, but the level of sales support provided negates the difference, a study from Stratmor Group said.