BofA CEO Visits HEL Hub
The chief executive officer of Bank of America Corp. recently stopped in to pay a visit to a fast-growing office that handles home-equity lending.
Portfolio Lender Formed From Acquisition
An acquisition by a Michigan financial institution provided a foundation for the creation of a portfolio lender that will invest in non-agency mortgages.
Banks Expand Staffing, Increase Earnings
Even as the number of banks has diminished, staffing in the sector expanded from the previous quarter, and earnings improved.
Ocwen Servicer Rating Downgraded
A recent escalation in regulatory scrutiny of Ocwen Financial Corp. prompted the downgrade of a servicer rating at its subsidiary.
Servicing Income Holds as Portfolios Grow
Income from operations at independent mortgage servicers has been stable even as residential servicing portfolios have been growing.
Mortgage Lenders Lift Originations, Earnings
As residential loan originations at independent mortgage bankers moved higher, production earnings swung back into the black. But originations and earnings fell short of a year earlier.
Fastest Growing Mortgage Firms
Among America's 500 fastest-growing companies are a mortgage banker, a mortgage servicer and a property preservation service provider. A mortgage lead generation firm also made the list.
BofA's Government Settlement Biggest in US History
Bank of America Corp. has agreed to the largest single settlement between the government and any one company. The agreement resolves claims related to shoddy mortgage originations and securitizations.
Judge Rules RFC Lawsuits Can Proceed
Multiple lawsuits filed by a former unit of Residential Capital LLC against some big-name lenders over repurchase demands have been allowed to proceed.
Servicing Off at Ocwen, U.S. Staffing Sinks
Although originations edged up at Ocwen Financial Corp., the servicing portfolio shrank. U.S. staffing was down, though offshore employment soared.