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Risk management and technology systems at the Federal Housing Administration lag decades behind Fannie Mae and Freddie Mac and desperately need to be revamped, according to a top official at HUD.
June 18
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The bill aimed at helping struggling homeowners also requires documentation of servicer behavior and FHFA evaluation of the services provided to borrowers.
June 18
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No plan will be implemented as long as Fannie Mae and Freddie Mac remain in conservatorship, but a capital framework for the companies could still have a substantive impact.
June 15
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Competition for deposits is heating up as summer approaches, and banks are responding in all sorts of ways — from launching digital-only platforms to raising CD rates to reviving debit rewards. But rising interest rates could weaken demand for loans, especially mortgages.
June 14
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The Seattle company is firing 127 people, or a tenth of its mortgage staff, after enduring months of slow activity.
June 14
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The agency proposed new minimum capital requirements for Fannie Mae and Freddie Mac that would only go into effect if the government ends its conservatorships.
June 12
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On Mar. 31, 2018. Dollars in thousands.
June 11 -
On Mar. 31, 2018. Dollars in thousands.
June 11 -
Robert Broeksmit has a tough act to follow succeeding David Stevens, the CEO revered for navigating the Mortgage Bankers Association through one of its most tumultuous eras on record. But in doing so, Broeksmit has a distinct advantage over many of his predecessors: inheriting an organization on the upswing.
June 8
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Acting CFPB Director Mick Mulvaney wrote in a two-paragraph filing that the Mount Laurel, N.J., company did not violate the Real Estate Settlement Procedures Act.
June 7
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Robert Broeksmit, a career mortgage industry executive, will succeed David Stevens as the president and CEO of the Mortgage Bankers Association.
June 7
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The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor.
June 6
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Umpqua Bank has hired veteran lender Tom Farrell to help it grow its homebuilder finance group in California.
June 5
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The low-cost deposits that come with the deal for 52 Wells branches in four states should fund the Michigan company's effort to become a commercial lender.
June 5
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Black Knight has acquired HeavyWater, a developer of artificial intelligence and machine learning technology for the mortgage industry, and plans to incorporate the startup's borrower data verification and other automation capabilities into its existing product suite.
June 4
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On Mar. 31, 2018. Dollars in thousands.
June 4 -
Ent CU boasts 11 of the best mortgage officers in Colorado and other top HR-related news at credit unions across the country.
May 31
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Promontory MortgagePath fills management roles for bank relations, technology and outsourced services opportunities.
May 31
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As other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio.
May 31
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The Rhode Island regional agreed to buy Franklin American Mortgage. With the acquisition it would have one of the nation's 15 largest bank-owned mortgage platforms.
May 31
