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Industry News

Anniemac buys a second Florida mortgage shop

Industry News, M&A /

Anniemac Home Mortgage is making its second acquisition in two weeks, adding construction lending experience to its ranks.  The New Jersey-based lender Tuesday said it acquired certain assets of Florida-based Home Solution Lenders. The company, which recorded almost $200 million in loan volume last year, brings expertise in construction-to-permanent loans, Anniemac said. “Having an experienced, […]

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MeridianLink agrees to privatization deal

Industry News, M&A, Mortgage technology, Technology /

Lending software platform MeridianLink will go back into private hands after announcing Monday it had agreed to terms of an acquisition deal with investment management firm Centerbridge Partners. The deal to reprivatize the Irvine, California-based technology provider is the latest in a wave of mortgage-related mergers and acquisitions this year and also comes as advances

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Veterans Affairs mortgage executive John Bell III departs

CAREER & COMPENSATION, Career moves, Industry News, The VA /

John Bell III, executive director of the Department of Veterans Affairs’ Loan Guaranty Service, is leaving his role.  The longtime mortgage professional and U.S. Navy veteran had been the executive at LGY since 2022, and spent 15 years at the VA, according to his biography. In a Linkedin post late Sunday night, he announced his

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Union Home Mortgage sues couple for trade secret theft

Industry News, Law and legal issues /

Union Home Mortgage is accusing a Georgia-based married couple of thwarting their noncompete agreement by taking confidential client information to her new employer. According to the complaint, Nathan Duce and Rachel Duce, who previously worked at UHM as a branch manager and loan officer respectively, took customer information from the Ohio-based lender and used it

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Loandepot shuffles leadership in search for profit

CAREER & COMPENSATION, Career moves, Industry News, Originations /

Loandepot has elevated two executives as it makes changes to its sales and originations divisions, part of an ongoing effort to return to profitability in the wake of disappointing second quarter results this week. Tom Fiddler is stepping up to take on the newly-created position of president of retail lending. Fiddler, who previously oversaw loan

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Loandepot, Onity, Cenlar announce leadership moves

Loandepot, Onity, Cenlar announce leadership moves

C-suite, CAREER & COMPENSATION, Career advancement, Career moves, Industry News /

Left to right: Gregory Buehler, Chris Simms Underwriting mortgage platform Friday Harbor ramped up its growth with two new leadership hires: Chris Simms and Gregory Buehler. The current president of the Mortgage Bankers Association of St. Louis, Simms joins the Seattle-based fintech as head of strategic partnerships, responsible for developing customer relationships and cooperation with

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Judge nixes class action bid in Wells Fargo redlining case

Industry News, Law and legal issues, Originations /

A California judge declined to give class action certification to a suit lodged three years prior accusing Wells Fargo of discriminatory practices. In an order dated Aug. 5, U.S. District Judge James Donato, wrote that there is no “glue” to hold together the plaintiffs’ claims to justify the granting of class status. Over 100,000 plaintiffs

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Mortgage rates drop to lowest level this summer

Industry News, Mortgage Rates, Originations /

A surprising July jobs report, which included downward revisions to early 2025 data, drove mortgage rates to their lowest mark in months, Freddie Mac reported.       The 30-year fixed-rate average decreased to 6.63% as of Aug. 7, according to the government-sponsored enterprise’s weekly Primary Mortgage Market survey. The average dropped 9 basis points from 6.72% in

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Judge rules Mr. Cooper data breach borrowers have standing

Cyber security, Data breaches, Industry News, Law and legal issues /

A Texas federal judge overseeing the data breach suit against Mr. Cooper refused to dismiss the case, as was previously requested by the mortgage servicer. In a recently published order, U.S. District Judge David Godbey, wrote that the court finds the plaintiffs have standing to bring some claims against Mr. Cooper, though others have been

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