Nonbank

The distressed $149.4 million loan that backed UBS Group AG's giant trading-floor complex in Stamford, Conn., is up for sale, according to a person with knowledge of the offering.

Smaller companies that perform servicing are rapidly growing their loan portfolios — and not just in the default servicing space.

PHH Corp. plans to close a Buffalo, N.Y.-area office next year, which will result in the layoff of 80 employees, extending the staff reductions already taken in 2016.

While depository mortgage lenders should exercise some caution before welcoming trended data and alternative credit scoring into their process, they must become inclusive or face losing market share to newer industry players like SoFi.

The surge in mortgage rates since the November election is expected to offset the increase to lenders' short-term funding costs following the Federal Open Markets Committee's 25-basis-point increase to the federal funds rate.

Stanford Kurland will step down from his role as CEO of PennyMac Financial Services and its affiliate PennyMac Mortgage Investment Trust and assume the role of executive chairman of both as part of a broader executive reorganization.

Fairway Independent Mortgage Corp. is rolling out a new mobile application that allows consumers to apply for a loan, scan documents and get updates on their loan status through real-time push notifications.

A flood of fintech companies are promising to create a better experience for mortgage borrowers, forcing lenders to contemplate buying a vendor's software, building applications in-house — or even outright acquiring a company with digital expertise.

The Consumer Financial Protection Bureau on Wednesday filed consent orders against three reverse mortgage companies, accusing them of deceptive advertising and misrepresentations.

Loan volume and balances increased in the third quarter as costs stabilized, according to data from the Mortgage Bankers Association.