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2 days ago · The home lenders voted by their employees as the Best Mortgage Companies to Work For in 2024 discuss supporting and engaging teams during a trying time for the industry. News analysis and perspective from National Mortgage News, an award-winning comprehensive digital resource serving the entire residential mortgage industry.
Mortgage fraud attempts surge by more than one-third
Apr 25, 2024 · Banks saw a more muted uptick from $4.36 to $4.40. While they occurred at all stages of customer interaction, mortgage fraud coming through new account creation accounted for 43% of all losses, compared to 34% in 2022. Fraud attempts in the account login process made up a 31% share, and the funds-distribution stage 26%.
20 banks with the largest mortgage servicing volume in Q2
Oct 17, 2023 · The top five banks in this list have a combined mortgage servicing volume of more than $26 billion at the end of the first quarter of 2023. Most banks saw a decrease between Q4 and Q1, but one saw a small rise of 7.91%.
UBS, Credit Suisse pact stabilizes key source of mortgage financing
Mar 21, 2023 · The UK headquarters of Credit Suisse Group AG in Canary Wharf financial district in London, UK, on Monday, March 20, 2023. European stocks initially slumped on Monday, as UBS Group AG's agreement to buy Credit Suisse Group AG at first failed to assuage fears about potential global banking turmoil, but later it played a role in a recovery in which stocks rose.
Early payment defaults drop below pre-pandemic levels
Sep 15, 2021 · Early payment defaults during the second quarter were at 86.5% of their year-end 2019 levels, down significantly from 126.7% in the first quarter of this year. AQM currently measures EPDs using the fourth quarter of 2019 as a benchmark. In another good sign for lenders concerned about repurchase risk, the report found that critical defects also ...
Mortgage players confirm more sweeping layoffs
August 08, 2022, 3:56 p.m. EDT 3 Min Read. Many more mortgage professionals are unemployed after a slew of companies from a fintech startup to publicly traded industry leaders revealed layoffs. Andrew Martinez. Reporter, National Mortgage News. For reprint and licensing requests for this article, click here. Industry News. Mortgage applications.
2021 mergers and acquisitions in the mortgage industry | National ...
Dec 26, 2021 · The $9.2 billion-asset Veritex said in a press release that it will pay $53.9 million in cash for a 49% stake in Thrive. The deal is expected to close in the middle of 2021. Thrive operates in several states, including Texas, Ohio, Colorado, Kentucky, North Carolina, Kansas, Virginia, Florida, Maryland and Indiana.
New Residential rebrands itself to Rithm Capital
Jun 17, 2022 · Along with the rebranding, New Residential announced an internalization of its management functions, effective immediately. Fortress Investment Group had been managing New Residential, providing personnel as well as corporate infrastructure. As Rithm Capital, the company will continue to be led by Nierenberg as board chairman, CEO and president, and Nick Santoro remains as chief financial ...
How servicers are putting available originators to work
Jun 13, 2022 · How servicers are putting available originators to work. By Brad Finkelstein. June 13, 2022, 1:10 p.m. EDT 8 Min Read. In the last few months, a series of lenders have issued layoffs or offered buyouts, everywhere from Better.com to Wells Fargo to PennyMac to Rocket Mortgage. During the early days of the Great Recession, another period that saw ...
NINA loans make a comeback with the 360 Mortgage pilot program
Apr 18, 2019 · 360 Mortgage is bringing back the no-income, no-asset loan, but says its $1 billion pilot's guidelines differ from those of the NINA loans that contributed to the financial crisis. For reprint and licensing requests for this article, click here. Over 4 million residents in the region, both coastal and inland, face dangers similar to residents ...