Claren Financial: The mortgage market faces 3 more years of recovery

Judge tosses whistleblower letter, limits discovery in Zillow-Move suit

Motions to limit subpoenas, strike letter benefit Zillow in legal row

San Francisco leads the nation in property bidding wars

Well above national average
W S

Lending

PennyMac Financial Services 1Q net income hits $47.1M

Sees substantial opportunity in mortgage production
Brena Swanson
PennyMac Financial Services posted net income of $47.1 million for the first quarter of 2015, on revenue of $140.3 million. Looking ahead, the lender's CEO sees substantial opportunity in mortgage production, driven by continued low mortgage rates, the FHA's reduction of its mortgage insurance premium and limited origination capacity in the market.
Read More

PHH returns to profitability in first quarter

Reports 46% jump in mortgage applications
Ben Lane
After a year of transition that saw PHH Corp. sell off its fleet management business and take a net loss from continuing operations of $191 million in 2014, PHH returned to profitability in the first quarter. How did PHH turn it around?
Read More

Stonegate earnings boosted by $2B MSR sale

First-quarter revenue increases 16%
Brena Swanson
Stonegate's first quarter revenues increased 16% to $44.3 million in the first quarter of 2015, largely thanks to a giant mortgage-servicing rights sale to a third party.
Read More

Pavaso offering quicker transition to e-closing solution

Provides lenders with “painless path” to TILA-RESPA compliance
Ben Lane
Pavaso announced a new solution that promises to help business implement digital closing and ensure compliance for the coming TILA-RESPA regulations, saying in a release that its “Fast Track” program provides a “quick, low-impact implementation” of its Digital Close solution in two weeks.
Read More

Lincoln Mortgage rebrands to Gateway Mortgage

Lender originally joined Gateway in early 2014
Brena Swanson
Lincoln Mortgage Company, formerly only a division of Gateway Mortgage Group, is now officially operating under the Gateway Mortgage Group name, changing the name of its four branches.
Read More

Claren Financial: The mortgage market faces 3 more years of recovery

Regulation’s role in lending conditions
Brena Swanson
It will be about three years until the mortgage lending environment returns to a healthy level and reaches a strong equilibrium. Until then, here’s what's impacting current lending conditions.
Read More

Solutionstar re-launches as one-stop shop for homes and mortgages

Nationstar CEO: We expect to revolutionize real estate
Ben Lane
The Zillow Group, Realtor.com, Redfin and every other site battling for the online real estate title are about to have a new competitor to worry about, and the new kid on the block is expecting to “revolutionize the way real estate transacts.” But this new kid isn’t a start-up, it is backed by one of the industry’s largest players – Nationstar Mortgage Holdings.
Read More

Accurate Group launches new appraisal technology

Fewer humans save time and money
Brena Swanson
Accurate Group launched its latest technology solution iValueNet, hoping to give mortgage lenders a choice on interior property inspections to help save time and money.
Read More

Planet Home Lending acquires HomeBridge Funding

Plans on expanding correspondent division product offerings
Brena Swanson
Planet Home Lending announced it is acquiring the employees and assets related to HomeBridge Funding, the correspondent division of HomeBridge Financial Services, helping establish the lender as a fully-integrated mortgage banker.
Read More

Walker & Dunlop earnings skyrocket on record origination volume

Lender prepares for commercial mortgage refinancing wave
Brena Swanson
Walker & Dunlop posted a 198% increase in net income from first quarter 2014, and the lender sees even more opportunity in the future as it prepares for a commercial mortgage refinancing boom.
Read More