Nonbank

David Schneider, who became Ditech Financial's president in February, is no longer with the lender as parent company Walter Investment Management streamlines leadership under its new CEO, Anthony Renzi.

The single-director structure of the Consumer Financial Protection Bureau represents an unconstitutional concentration of executive power, a federal appeals court said Tuesday. But the court stopped short of disbanding the agency, instead giving the president more power to remove its leader.

National reverse mortgage originator Longbridge Financial has received investments from Ellington Financial and Home Point Capital.

Nonbank lenders and brokers added 900 employees to their payrolls in August as home sales slowed.

Bank mortgage servicers are slashing their staff in the wake of improved loan performance and decreased portfolio, according to Fitch Ratings.

Borrowers who go through a sour mortgage experience often leave poor business reviews online and move on with their lives. Houtan Hormozian decided to become a loan officer and give his clients the service and experience that he didn't get to have.

An FHA lender was cited for violating Department of Housing and Urban Development rules by allowing repayment provisions in second mortgages.

Mortgages jumped more than 20% to 7.4 million originations in 2015, reversing a more than 30% decrease a year earlier, according to housing finance data released Thursday. The data also found that nonbanks accounted for fully half of new mortgage originations — the largest proportion in over 20 years.

The National Association of Mortgage Brokers has created a new grant program that is designed to expand the mortgage broker channel by helping mortgage professionals open their own wholesale shops.

Restoring consumer confidence in financial services won't be easy after the latest banking brouhaha, but the Consumer Financial Protection Bureau can help by proactively holding all mortgage loan officers to the same federal licensing standard.