The source for daily mortgage news. Rates, analysis, and industry insight for mortgage advisors, originators, bankers, and all loan origination professionals. Home of NMP, Mortgage Banker, and Mortgage Women Magazine.

2022年2月23日 · he law firm Marcus & Zelman LLC has reached final approval for a class action settlement with Select Portfolio Servicing Inc., (Gaffney v. Select Portfolio Servicing, Inc.) a company that serviced the plaintiffs’ mortgage loans on behalf of a non-party lender. Now, other consumers who have been overcharged on their mortgage debts after foreclosure may be …

2023年4月26日 · Rushmore Loan Management Services LLC, a mortgage servicer based in Irvine, Calif., announced Wednesday it has entered into a definitive agreement to sell its residential mortgage servicing platform to Dallas-based Mr. Cooper Group, one of the largest home loan servicers in the country. The deal follows Mr. Cooper's agreement, announced in February, to acquire Rushmore's parent firm, Roosevelt ...

2024年10月23日 · Mortgage loan originators and other licensees are being urged by regulators to update their license registration by next month. Recent changes were made to the Nationwide Multistate Licensing System ahead of the organization’s annual renewal period, which runs from Nov. 1 through Dec. 31.. The Conference of State Bank Supervisors (CSBS), the national organization that operates the NMLS, is ...

2024年11月20日 · Today, the Federal Housing Administration (FHA) posted a draft Mortgagee Letter (ML), proposing greater flexibility for borrowers who receive income from individuals renting space inside their property, also called "boarders" by the Single Family Housing Policy Handbook 4000.1. The proposed revision expands underwriting flexibility for borrowers seeking FHA-insured mortgages using that rental ...

The mortgage industry is navigating a transformative period, driven by evolving market dynamics, regulatory changes, and advancing technology. From the missteps of relying on rate predictions to the strategic reassessment of Mortgage Servicing Rights (MSRs) in a volatile market, lenders are learning to adapt. Regulatory shifts, such as PACE loan prioritizations and data privacy carveouts ...

2024年7月25日 · Mr. Cooper has entered into a “definitive agreement” to buy Flagstar Bank’s residential mortgage servicing business for $1.4 billion, including their mortgage servicing rights (MSRs) and third-party origination (TPO) platform, the company announced in a press release Thursday.. Flagstar Bank is a subsidiary of New York Community Bankcorp, Inc. (NYCB), acquired by NYCB at the end of 2022.

All the news from the mortgage industry for originators, including rates, analysis, technology, non-QM loans and other lending products, mortgage hires, and other mortgage industry updates.

2024年11月18日 · New data published by the Federal Reserve Bank of New York paints a bleak picture of mortgage origination in 2024, as consumers’ expectations of improving credit conditions remain subdued heading into next year.. The average rejection rate for mortgage refinance applications increased to a decade-plus high of 25.6% this year, a jump from 15.5% last year.

2022年10月18日 · Education and Testing Requirements. The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) was passed in 2008 and became effective on Aug. 1, 2009. This law mandates certain requirements for people who want to become mortgage loan originators. Under the law, prospective MLOs must register with the Nationwide Multistate Licensing System (NMLS) and provide fingerprints for ...