Primelending returned to the black in the second quarter, but ongoing housing market challenges look set to apply further downward pressure to the mortgage business’ bottom line, leaders of its parent company warned. Mortgage originations brought in $3.21 million of pre-tax income for Hilltop Holdings, parent company of Plainscapital Bank and Primelending, during the second […]
Primelending profits, but outlook still dim Read More »
Real estate and mortgage intelligence provider Ingenius announced an acquisition and integration of a new recruitment platform aimed at helping retail branch managers into its own data tools. The Pompano Beach, Florida-based technology firm welcomed the deal that combines SIMPL with Ingenius’ data software. Built by longtime mortgage sales leaders Fobby Naghmi and John Perry,
Ingenius acquires loan officer recruitment platform Read More »
Rithm Capital’s investor lending operations will get a financial boost thanks to a new partnership to help fund the purchase of over $1 billion worth of loans. The New York-based real estate investment trust announced it had reached an agreement with an unnamed “large institutional investor” to fund the acquisition of up to $500 million
Rithm Capital inks $1.5B deal for investor loans Read More »
A HomeStreet Inc. division is shedding Ginnie Mae mortgage servicing rights ahead of the parent company’s merger with Mechanics Bank, which has not been active as an MSR investor. The Seattle-based HomeStreet Bank has agreed to sell the portfolio on Aug. 1. It had a principal balance of $794 million as of June 30. The
HomeStreet selling nearly $800 million in Ginnie servicing Read More »
The founder of Figure is moving to recombine the company he split into two parts just a year ago Mike Cagney, the head of the fintech firm, announced via LinkedIn that Figure, the firm’s lending arm, and Figure Markets, a blockchain-powered financial marketplace, will become one entity again. “I split the company in two last
Figure to recombine lending arm and marketplace into one entity Read More »
An Indiana loan officer faces a dozen felony counts after being accused of altering borrower information while working as an originator for two different lenders. State officials filed charges against Laura Mickler in Delaware County circuit court, located in the Central Indiana town of Muncie, in early July. She faces four felony counts each of
Former mortgage loan officer faces fraud, forgery counts Read More »
A California borrower is accusing Wells Fargo of concealing for more than a decade that it improperly charged customers certain origination-related fees. The issue surfaced in 2022 when the bank sent “cryptic notices” to borrowers stating it had incorrectly assessed float fees during the loan origination process, according to a federal lawsuit filed in California
Wells Fargo sued for not disclosing fees during loan origination Read More »
The U.S. Senate passed a partial claims bill aimed at helping Department of Veterans Affairs borrowers avoid foreclosure following the expiration of a previous federal servicing program this past spring. Senators approved the VA Home Loan Program Reform Act by unanimous consent Tuesday evening after the House of Representatives previously proposed and passed the legislation
VA partial claims bill passes in the Senate Read More »
Officials in New England approved a new law that makes unenforceable a “predatory” practice often targeting older homeowners that binds them to a single real estate broker and limits future options to sell their homes. Rhode Island recently became the latest state to pass legislation against NTRAPs, or non-title recorded agreements for personal services. Officials
‘Predatory’ NTRAPs outlawed in another state Read More »
The Office of the Comptroller of the Currency is rolling back disparate impact supervision for banks, it announced Monday. As such, the federal agency’s supervisory process for fair lending compliance will no longer include the examination for cases in which neutral policies have an unequal effect on a protected class such as by race or
OCC axes disparate impact oversight Read More »