Stearns Lending was the top table funder in 3Q15 with $2.95 billion originated through loan brokers. United Wholesale Mortgage was an extremely close second at $2.94 billion.
The 2008 Housing and Economic Recovery Act stipulated that the baseline limit could not be lowered when house prices were falling. And during recovery, there could be no increase until the HPI reached its previous high, in the third quarter of 2007.
California had threatened to pull the company’s license over document requests that Ocwen was ignoring at the time. Eventually, the two parties came to terms.