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
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News

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.
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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?
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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.
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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.
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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.
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BSI Financial approved as Ginnie Mae issuer

Now able to service loans in Ginnie Mae securitizations
In a release, BSI Financial said that the Ginnie Mae approval provides “further evidence of BSI Financial's sound servicing practices and its track record of regulatory compliance.” The company also said that the accreditation “opens the door” for further expansion of the company's loan subservicing solutions.
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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.
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Gallup: Job creation index highest since September 2014

Index shows first real gains in six months
Trey Garrison
More American workers have reported that their employers were hiring over the past year than in the six years prior, with the latest data from April representing a new high mark. Here's what Gallup says.
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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.
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ADP forecasts weak April job growth

At 169K, it’s not pretty
Trey Garrison
ADP correctly signaled a weak employment report for March and it's signaling another weak report for April. Friday's report could be ugly.
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