The nonbanks that ranked among the top 50 players in the servicing business upped their combined portfolio by 3.5% during the second quarter, while depository institutions recorded a slight decline.
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Top nonbank servicers continued to expand their agency MSR positions in the second quarter via acquisitions and organic growth. Wells Fargo, U.S. Bank and BofA were the only top-10 agency servicers to shrink.
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One of the best kept secrets in the industry surrounds CEO compensation at the nation's largest nonbank originators. According to interviews conducted by IMF, some CEOs earn $10 million to $15 million per year.
Low interest rates and a growing refi market helped Fannie Mae and Fred-die Mac post robust earnings. The GSEs expect to send a combined $5.2 bil-lion to Treasury as dividend.
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The former CFPB fair lending chief may have abused his authority in dealing with a controversy tied to his racially charged writings more than a decade ago.
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The Social Security Administration has closed the enrollment period for financial institutions to participate in a new fee-based, automated program to verify individuals’ Social Security numbers for lending purposes.
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Not only are lenders making money these days, so too are the warehouse providers that finance them. Meanwhile, the mortgage IPO market is dormant.
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