Several Mid-Level Mortgage Managers Appointed
Recent appointments in real estate finance include a pair of regional managers, a production manager and a consumer-direct executive.
MSRs Eat Into Mortgage Servicer Earnings
An escalation in prepayment volume pushed up quarterly losses from mortgage servicing rights activity and drove earnings at the mortgage servicers deeper into the red.
Mortgage Production Profits Up on Employee Expense
As quarterly loan originations increased, independent mortgage bankers cut their per-loan employee expenses and doubled the bottom line.
Former MGIC Chief Dies
The former chairman and chief executive officer of MGIC Investment Corp. has passed away, according to the mortgage insurance company.
IPO Planned for Home Lending Bank
The parent of third-largest Tennessee-based bank disclosed plans for an initial public offering. Some of the proceeds might fund acquisitions.
Massive Taylor Bean Lawsuit Settled
A $5.5 billion lawsuit filed by the trustee for bankrupt Taylor Bean and Whitaker Mortgage Corp. against an auditor has been settled.
PHH Losing More Subservicing Business
PHH Mortgage Corp.'s parent company has revealed that it is losing another large mortgage subservicing contract. As a result, the subservicing portfolio will be nearly cut in half this year.
Florida Mortgage Banker Dies
A Florida mortgage banking executive who previously sold his mortgage company to Warren Buffett's Berkshire Hathaway Inc. has died of heart failure.
Stearns Lending Restructures Management
Voracious growth has led Stearns Lending LLC to make changes to its management structure and to the titles utilized by its executive team.
4th Bank Failure of 2016
For the fourth time this year, a federally insured bank has failed. This time it was a financial institution out of the South.