Investment Firm Taking Stake in Guaranteed Rate
An investment firm with interests in firms like Black Knight Inc., ServiceLink Holdings LLC and Ten-X LLC is taking a stake in Guaranteed Rate Inc.
Banks Among Firms Acquiring Mortgage Bankers
Several mortgage banking firms are being acquired, including two that are being picked up by banks. Two smaller Louisiana firms are merging, while a significant player is being purchased by another.
Acquisition to Lift Wintrust Production by $1 Bil
The acquisition of a mortgage banker that specializes in home loans to veterans will boost Wintrust Mortgage's annual originations by nearly $1 billion and its servicing portfolio by more than $1 billion.
Servicing Expands, Origination Up at Caliber
Quarterly mortgage originations increased at Caliber Home Loans Inc., as did the size of its servicing portfolio. But the company reduced its payroll by nearly 200 people.
Wave of Mortgage Executive Appointments
From the board room to the C-Suites to the executive suites, home lending organizations have recently been busy appointing, recruiting and promoting new leaders and directors.
Guaranteed Rate Sues Former Executive
A lawsuit has been filed against a former executive of Guaranteed Rate Mortgage for allegedly conspiring to recruit a group of employees for a rival.
Ocwen Agrees to Settlement With Investor
A settlement has been reached between Ocwen Financial Corp. and an investment fund that is located in the Northeast.
Walter Investment Files Bankruptcy
Walter Investment Management Corp. has filed for bankruptcy as expected. The company hopes to wipe out nearly $1 billion in outstanding debt.
Earnings Improve at Mortgage Servicers
Mortgage servicers saw a solid improvement in quarterly earnings. Behind the rise were higher servicing fees and lower losses on mortgage servicing rights.
Mortgage Production Profits Sink
While home lenders experienced an increase in average origination fees, quarterly net income still was down. Secondary marketing income drove quarter-over-quarter deterioration.