Thanks to a growing refinancing boom that gathered steam in the third quarter, small mortgage banking companies benefited as their profits per loan more than doubled during the period.
MRN Cubed, a mortgage outsourcing and consulting firm and the parent company of e-mortgage technology vendor SigniaDocs, acquired default management workflow vendor DepotPoint.
A key federal regulator is signaling that banking agencies are not close to formulating final regulations that address risk retention on mortgage securitizations.
Home prices fell 1.3% in October after a 1.1% decline in September, according to new figures release by CoreLogic.
Bank of America Corp. has agreed to pay $315 million to settle claims that its Merrill Lynch unit made false and misleading statements about the quality of subprime mortgage-backed securities it sold to investors.
GMAC Mortgage on Friday said it will no longer purchase loans originated by mortgage correspondents or brokers in Massachusetts, citing the regulatory environment in the state.
Over the past week or so Bank of America began telling a select group of its warehouse lending clients that their lines would terminate within 30 to 90 days.
