More LOs in Mortgage Business, But Fewer Banks
Compared to a year ago, there are more loan originators working for fewer mortgage firms. The decline was due to a drop in the number of financial institutions.
Bank Mortgage Lenders and Originators Decline
Compared to a year ago, the number of financial institution mortgage lenders and their loan originators has declined, while non-bank lenders and originators have increased.
Comment Sought on Revised NMLS Reports, Forms
People in the mortgage industry have an opportunity to provide input on a revised call report and uniform state licensing forms.
CO, VA Among Top 5 States in Mortgage Originations
Data on mortgage licensing activity indicates that Colorado and Virginia were among the top-five states in residential loan production by state-licensed originators.
Lender Settles Allegations of Cheating on Exams
Executives at a mortgage banking firm are accused of collecting information about test exams and passing them on to loan originators. A multi-million-dollar, multi-state settlement includes the ouster of the chief operating officer.
State Licensed LOs Increase, Bank LOs Down
From the end of 2013 through the end of 2014, the number of state-licensed loan originators rose, while bank registrations declined. California saw dozens of firms lose their licenses.
Ongoing Obstacles for Ocwen
While a consent order reduces the threat of losing its California license, Ocwen Financial Corp. still has several hurdles to overcome.
Ocwen Resolves California License
Ocwen Financial Corp. has overcome the possible suspension of its California license through a settlement with the state.
Ocwen Expects to Resolve California License Issues
An action against Ocwen Financial Corp. by the state of California that threatens a substantial portion of its servicing business is expected to be resolved by the company.
California Seeks to Suspend Ocwen's License
Ocwen Financial Corp. is facing the possible loss of its license in California -- a development that could force it to give up nearly a quarter of its mortgage servicing portfolio.