The entire group is moving to the Connecticut-based nonbank from a company called Mortgage Services, a subsidiary of First State Bank of Mendota, IL.

Orange Capital is a private equity firm that has been gobbling up stakes in PHH Corp. over the past year. A few months back Inside Mortgage Finance first reported that PHH might be a takeover target.

According to interviews conducted by Inside Mortgage Finance, Lau’s company, Pingora Loan Servicing, has amassed roughly $10 billion in MSRs in less than nine months.

The new ownership filing on Walter Investment comes at a time when short interest in nonbank mortgage firms is increasing.

Mark Mozilo, a principal in CALCAP, told IMFnews that he is seeing more competition in the hard money space.

One executive familiar with the practice of signing bonuses noted that typically the money is paid out over 12 months, but if the LO does not repeat their past performance the bonus can terminate in a given quarter.

What’s the best way to entice a workaholic mortgage loan officer who knows how to bring home the bacon? Answer: Pay them a huge signing bonus.

Mortgage executives are praying that even though eminent domain plans have been talked about and brought to a vote in a handful of cities, that it never gets used.

Is Caliber's parent toying with an IPO for the lender? After all, hedge funds like to “build and flip,” not build and hold forever…

Morgan Stanley notes: “The agreement in principle is subject to final approvals by the parties. In connection with the settlement, the company will record an addition to legal reserves of $150 million, which will have the impact of reducing income..."