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Stearns Holdings and certain subsidiaries have filed for Chapter 11 bankruptcy as part of a restructuring agreement that could reduce debt, increase Blackstone's stake in the company and preserve jobs.
July 9
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FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's restructuring of its mortgage business.
June 27
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After hiring half the laid-off staff from Live Well Financial, Open Mortgage plans to engineer a careful transition to operating as a larger-scale business.
June 25
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Real value comes from the wholesaler using a hands-on approach to ensure that a mortgage broker's customers are treated to the best experience for the life of the loan.
June 21
Home Point Financial -
Roughly 50 of the more than 100 staff members Live Well Financial let go after it stopped funding loans will join Open Mortgage, a multichannel lender in expansion mode.
June 5
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Velocity Mortgage Capital's new loan for income-producing residential and small-balance commercial properties was designed to afford investors more payment certainty than traditional bank financing.
June 3
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Plaza Home Mortgage has improved its pricing for certain jumbo loans that Fannie Mae's automated underwriting system approves, but categorizes as ineligible due to loan size.
May 28
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Freedom Mortgage's acquisition of RoundPoint Mortgage Servicing gives it a major subservicer and will increase the Mount Laurel N.J.-based company's mortgage servicing rights portfolio by nearly 44%.
May 24
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Lower rates hurt the value of Impac Mortgage Holdings' servicing rights and overall earnings in the first quarter, but they could help improve the company's second-quarter results.
May 10
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Movement Mortgage purchased the two branches that comprise Huntsville, Ala.-based Platinum Mortgage's retail business just weeks after the latter company sold its wholesale division.
May 3
