Mortgage veteran Kurt Johnson, who held executive roles at Indymac Bank and OneWest Bank before joining Mr. Cooper in 2015, succeeds Jaime Gow as CFO, it was announced this week. Continue reading
Rising mortgage rates have many lenders looking to sell servicing rights, creating an opportunity for a Dallas-based company that now collects payments on $870 billion in loans. Continue reading
The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to “right size” and helped crown a new leader in mortgage lending. Continue reading
Soaring mortgage rates, slagging sales, thousands and thousands of layoffs: The past 12 months have offered a jarring reminder that what goes up must come down. Continue reading
The mortgage tech and title provider posted a $132.7 million net loss in the third quarter of 2022, with revenue falling 38 percent from a year ago to $55.3 million, according to an earnings call Thursday. Continue reading
Mr. Cooper, which had 8,200 employees at the end of last year, laid off 250 workers from its lending business during the first quarter and announced another 420 layoffs in June. Continue reading
While growing loan servicing business remains profitable, according to Q3 earnings, paper gains on servicing rights could evaporate if interest rates fall and borrowers refinance out of portfolio. Continue reading
The Arkansas-based lender will use Sagent’s servicing solutions to collect monthly payments from borrowers and manage loans when homeowners get behind on their payments. Continue reading
The ranks of the real estate industry have swelled over the past decade. Some experts who spoke to Inman believe a trend in the opposite direction may be picking up speed. Continue reading
Investors warned of “break even” second quarter as rising mortgage rates put a bigger-than-expected dent in loan originations. Continue reading