The American Rescue Plan includes a Housing Assistance Fund with nearly $10 billion allocated for mortgage payments...

However, the court provided an opening for the CFPB to pursue claims raised in the parties’ motion for summary judgment alleging loan servicing misconduct after Feb. 26, 2017...

Mike Baldwin: He added: “Productivity is up along with the volume, so we have been very pleased. I really can’t cite any challenges that arose from working remotely. We’ll continue to be flexible.”

What goes up, sometimes comes down.

PennyMac is hardly alone, but its disclosure reveals just how profitable the strategy can be...

Wells Fargo was the top jumbo servicer, with $268.73 billion of product at yearend, down 14.2% from the end of 2019.

Chopra said industry participants will be offered a “robust way to comply” with fair lending laws and that wrongdoers will be held accountable...

Meanwhile, the CFPB issued a report that warns of widespread evictions and foreclosures once “federal, state, and local pandemic protections come to an end, absent additional public and private action.”

Not only was PennyMac Financial able to up the deal size from $500 million, but its cost to borrow came in at 4.25% per year.

Never in the annals of mortgage banking has one nonbank ever put together a half-year where net profits landed north of $5.25 billion. Note: Quicken’s gain-on-sale margin for 4Q20 was calculated at 441 basis points compared to 578 bps in 3Q20.