Nonbank

In a letter Monday to Comptroller Thomas Curry, Sens. Sherrod Brown, D-Ohio, and Jeff Merkley, D-Ore., registered their strong opposition to the concept of the charter, which would allow certain types of fintech companies to avoid state licensing requirements by obtaining a limited-purpose national bank charter.

Quicken Loans parent company Rock Holdings has agreed to buy two online marketing service providers, marking the Dan Gilbert-owned conglomerate's entrance into the lead acquisition space.

Independent mortgage banking and brokerage firms added 4,000 employees in November, even as rising interest rates took its toll on loan application volume.

Initiatives aimed at a more inclusive credit box have long relied on costly approaches that are difficult to scale. Now, demographic shifts are intensifying industry demand for a more automated and efficient solution.

The Office of the Comptroller of the Currency’s decision to offer a special-purpose charter for fintech firms may entice more players than expected, including mortgage lenders.

Some of the most popular contributors to National Mortgage News' Voices community weigh in on what they see coming in the next year for origination, servicing, technology and regulation.

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.

Employment in the nondepository mortgage lenders and brokers sector grew for the fifth straight month, according to the Bureau of Labor of Statistics.

The election results will only intensify factors making competition with bank lenders more difficult, including the effect of interest rates as well as the regulatory environment.

While nonbank servicers are expected to continue to gain greater market share in 2017, much of that growth will come from their own loan origination activity rather than mortgage servicing rights purchases and subservicing, according to a report from Fitch Ratings.

Walter Investment Management Corp. lost $101.8 million in the third quarter, driven by goodwill and intangible asset impairment charges of $60.8 million and noncash charges of $17 million.