Mortgages

On Mar. 31, 2018. Dollars in thousands.

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.

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.

Robert Broeksmit, a career mortgage industry executive, will succeed David Stevens as the president and CEO of the Mortgage Bankers Association.

The Atlanta bank had previously failed compliance metrics in five straight quarters before passing them last year, according to the settlement's monitor.

Umpqua Bank has hired veteran lender Tom Farrell to help it grow its homebuilder finance group in California.

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.

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.

On Mar. 31, 2018. Dollars in thousands.

Ent CU boasts 11 of the best mortgage officers in Colorado and other top HR-related news at credit unions across the country.

Promontory MortgagePath fills management roles for bank relations, technology and outsourced services opportunities.

As other banks de-emphasize mortgage lending, Citizens is spending half a billion dollars to buy a large originator with a big servicing portfolio.

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.

An unlikely partner aims to help credit unions change how a skeptical public looks at reverse mortgages.

The S&P 500’s financials sector drops more than 3%; former Amex chief’s venture capital firm is backing a credit scoring company.

While unprecedented debt levels pose risks, lenders say there won’t be any major upset to the economy for a number of reasons, including the view Bank of Canada won’t press ahead with higher rates if signs of stress emerge.

Lenders would have a lighter data-reporting burden, but they may end up deciding to collect the data anyway.

A new integration between Blend and Ellie Mae seeks to improve the use and accessibility of electronic mortgage documents, the latest in an ongoing industry effort to create a more simplified and consistent borrower experience.

With President Trump signing the regulatory relief bill into law on Thursday, credit unions expect to see a host of benefits, including changes to MBL regs, HMDA exemptions, changes to the QM rule and more.

The economy has been expanding for nine years, but one credit union economist believes the tide could be about to turn – and soon.