Exclusive: Mortgage lender loanDepot will soon offer personal loans

New FICO program reveals credit score to risky borrowers

Idea comes from CFPB request

Is this any way to run a mortgage market?

Here's the right solution
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Exclusive: Mortgage lender loanDepot will soon offer personal loans

Is this the future top nonbank lender?
Brena Swanson
loanDepot CEO and founder Anthony Hsieh's goal to be the number one nonbank consumer lender might not be too far from reality. The lender announced it will begin offering personal loans in the next month, marking the beginning of more growth outside the world of housing. Is this the new way of nonbank lenders?
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Forum: If housing is to break stagnation, it needs regulatory reform

Balance needed between regulation and opportunity
Trey Garrison
Home prices are rising roughly twice as fast as wages, putting pressure on potential homebuyers and heightening the risk that any uptick in interest rates could be a setback. What can be done to fix this?
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CFPB and FTC fine Green Tree $63 million for “mistreating borrowers”

CFPB: Green Tree harassed and threatened overdue homeowners
Ben Lane
The Consumer Financial Protection Bureau and the Federal Trade Commission are taking action against Green Tree Servicing for “mistreating borrowers” who were attempting to save their homes from foreclosure. According to the CFPB and the FTC, Green Tree failed to honor modifications for loans transferred from other servicers, demanded payments before providing loss mitigation options, delayed decisions on short sales, and harassed and threatened overdue borrowers. Here is Green Tree's response.
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Will this $69 door-security solution halt REO break-ins?

Armor Concepts jams the jamb
Trey Garrison
Vandalism and break-ins can be a big problem for investor-owned and REO portfolios, and one former home flipper developed a solution after he realized that alarm systems don’t really offer any protection.
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New FICO program reveals credit score to risky borrowers

Idea comes from CFPB request
Brena Swanson
FICO isn’t done making waves in the industry. After announcing a new credit program for risky borrowers at the beginning of the month, it is working to make sure those same type of borrowers are also financially educated.
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Safeguard Properties promotes Michael Greenbaum to chief operating officer

Previously served as vice president of operations
Ben Lane
Safeguard Properties, the mortgage field services provider, announced the promotion of Michael Greenbaum to the position of chief operating officer. Greenbaum, who joined Safeguard in 2010, previously served as vice president of operations.
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MGIC beats 1Q estimates with $133.1M profit

Company doubles net insurance written compared to 1Q14
Trey Garrison
MGIC Investment Corp. today reported net income for the quarter that beat analyst expectations, with a big gain in net insurance written in the first quarter. Here's where they took off.
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The Mortgage Collaborative names new board members, CEO

David Kittle, Debra Still and Jim Park to serve in leadership roles
Ben Lane
The Mortgage Collaborative announced several changes to its board of directors and executive management team. After the changes, David Kittle will serve as vice chairman of the board, Debra Still will serve as secretary of board and Jim Park will serve as the Mortgage Collaborative’s chief executive officer.
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Home Point Financial expands into retail mortgage lending

Adds lending operations from Great Plains National Bank
Ben Lane
Home Point Financial, a subsidiary of Home Point Capital, a financial services holding company founded in 2014 and owned by members of management and by investment funds managed by Stone Point Capital, is launching a mortgage banking business. Here's the skinny.
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Morgan Stanley could pay $500 million in mortgage pact

Deal with NY AG still in talks
Brena Swanson
Morgan Stanley is in talks to possibly pay about $500 million to settle a probe by New York’s Attorney General Eric Schneiderman into whether the firm misled investors in mortgage bonds that cratered during the financial crisis.
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