Wingspan Confirms Founder Out as CEO
Wingspan Portfolio Advisors LLC has confirmed that its founder has been ousted from his chief executive officer role as the company unloads a subsidiary and gets a capital infusion.
Regions Refinance Originations Rise
Despite a dip in purchase mortgage financing at Regions Financial Corp.'s, an increase in refinancing pushed overall home lending higher.
Flagstar Fundings Up, Mtg Assets and Servicing Off
The mortgage servicing portfolio and residential lending assets shrunk at Flagstar Bancorp Inc., but home loan originations expanded.
134-Year-Old Bank, Correspondent Lender Done
Among several mortgage-related businesses to recently call it quits was a bank that was 134 years old, three credit unions and a correspondent lender.
Backdating Prompts Ocwen Servicer Downgrade
Allegations that Ocwen Financial Corp. backdated letters to distressed borrowers has prompted a downgrade to its servicing subsidiary's rating.
Correspondent Originations Surge at SunTrust
Even though residential loan production was down for the retail channel, SunTrust Banks Inc.'s correspondent acquisitions jumped by a third -- pushing overall originations up.
5th 3rd Ekes Out Gain in Mortgage Originations
Fifth Third Bancorp reported a small quarterly gain in residential loans production. Its mortgage investment portfolio grew, but its servicing portfolio was off.
Mortgage Losses Widen at BofA
An increase in new home lending at Bank of America Corp. wasn't enough to offset the cost of a recent massive settlement with the government.
Canadian AMC Acquires US AMC
An appraisal management company out of Canada has taken an interest in an AMC in the United States with plans for a major American expansion.
Mortgage Closings Climb at Citi
Citigroup Inc. increased mortgage production, grew its domestic real estate lending portfolio and improved earnings. Legacy mortgage assets were reduced, as was its servicing portfolio.