Ocwen Financial’s streak of settling with states that previously restricted Ocwen’s ability to acquire new mortgage servicing rights and originate new loans in each state continues. The nonbank disclosed Tuesday that it reached agreements with Arkansas, Tennessee, and the District of Columbia, bringing the total number of states it’s settled with to 20.
In its latest announcement, Pavaso said it partnered with Gregg & Valby, a Texas-based law firm and technology provider, to integrate the technologies of both companies. The move allows nationwide closing documents to be integrated into the Pavaso Digital Close platform electronically.
Morgan Stanley’s earnings beat revenue expectations by nearly $200 million. The company’s CEO explained the results reflected the stability that the company’s wealth management, investment banking and investment management businesses bring when the sales and trading business faces a subdued environment.
East2West Valuation Services announced it named Debbie Key as its new CEO, bringing more than two decades of mortgage experience to the position. Most recently, Key was the senior vice president of operations at Consolidated Analytics, focusing on appraisal management.
The recent hurricanes will do little to bring down economic growth in 2017, however several events could moderate growth in 2018, according to the latest forecast from Fannie Mae. The GSE predicted tax reform poses a positive risk for the new year, and offsets other negative risks looming on the horizon.
After first hesitating to run due to Consumer Financial Protection Bureau Director Richard Cordray’s rumored bid, Ohio Supreme Court Justice Bill O’Neill changed his mind and revealed that he’s leaning toward entering the 2018 Democratic gubernatorial primary. Should the industry give up on the idea that Cordray will run for governor too?
Wells Fargo will continue to be banned from doing business with the government of its home state for at least another year because of the bank’s “wanton greed” and “lack of institutional control,” California State Treasurer John Chiang announced Monday.
Mortgage risk decreased during the second quarter this year, yet data from the Housing Finance Policy Center shows even if the default risk was doubled across all mortgage lending channels, it would still remain within the pre-crisis standard. The drop was due mainly toward a shift away from government channel loans, which are much looser than other lending channels.
Last year, Lone Wolf Technologies, a provider of residential real estate software, received an injection of new funding from Vista Equity Partners, a private equity firm and previous investor in Lone Wolf. At the time, Lone Wolf said that it planned to use that money to grow its business, and now it’s putting some of that money to use acquiring Instanet Solutions.
HousingWire set out to find out how the nation’s top 10 originators dominated the mortgage industry in 2016, including their best advice for up-and-coming mortgage lenders. Here’s what some of the top mortgage lenders say were the main drivers of their growth, and what they will be focusing on going forward.