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.
LOs Continue to Move From Banks to Non-Banks
A growing share of the nation's mortgage loan originators are opting to work at non-bank mortgage companies.
Mortgage Compliance Made Easier
A crop of new and enhanced services are intended to help home lenders and servicers address upcoming disclosure rules, new licensing requirements and updated agency requirements.
NY Hard Money Lenders Under Investigation
Financial services firms making hard money loans are being investigated by a New York regulator for potential predatory lending practices.