Mortgage LOS Updates, Acquisition
In addition to an acquisition involving a loan origination system, two LOS service provides have upgraded there systems -- with one labeled as a "major" release. Meanwhile, LOS integrations continue.
US Still Grappling With Too Big to Fail
Nearly a decade after the financial crisis, Democrats and Republicans are still battling over how to liquidate behemoth financial institutions that fail.
Mortgage Firms Acquired and Not Acquired
While some mortgage acquisitions have recently closed, one fell through just hours before it was supposed to be consummated. One company that was set to close down is back in business.
Michigan Credit Union to Acquire Florida Bank
A deal has been reached for Grand Rapids, Michigan-based Lake Michigan Credit Union to acquire Naples, Florida-based Encore Bank.
PHH Continues to Reduce Mortgage Business
As the parent of PHH Mortgage continues to execute on its strategy to shrink its mortgage business, losses grew from a year earlier as originations and servicing were slashed.
Ocwen Exits Correspondent Channel, Lending Sinks
An exit from the correspondent lending channel had quarterly mortgage originations plunging at Ocwen Financial Corp. The slowdown was accompanied by continued losses.
Mortgage Results Drive HomeStreet Layoffs
With home-lending business coming in more slowly than expected, HomeStreet Inc. has begun reducing its mortgage workforce. Further downsizing could be ahead.
Flagstar's Home Lending Soars, Could Jump Again
A quarterly leap in mortgage originations at Flagstar Bancorp Inc. is set to repeat in the current quarter. But the primary mortgage servicing portfolio was reduced.
Home Lending, Servicing Rises at Lake Mich CU
A healthy increase in mortgage originations was reported by Lake Michigan Credit Union. Also expanding was the organization's servicing portfolio.
HSBC Cutting Nearly 200 Florida Jobs
The wind down of HSBC Holdings Plc.'s U.S. finance unit has nearly 200 Florida employees losing their jobs during the next few months.