Lending

Sources: Mr. Cooper to buy Pacific Union Financial

Company could soon announce plans for move
Multiple sources confirmed to HousingWire that Nationstar, also known as Mr. Cooper, is buying Pacific Union Financial. Back in July, Pacific Union showed signs of struggling as it unexpectedly closed the doors to its mortgage fulfillment call center, leaving El Paso, Texas, short 699 promised jobs.
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How the mighty have fallen: Ditech booted from the New York Stock Exchange

Troubles persist for once-bankrupt nonbank
When we last checked in on Ditech Holding Corp., the nonbank formerly known as Walter Investment Management, things weren’t going too well. And it sounds like things haven’t gotten much better for the company over the last few months. Ditech notified investors this week that the company is being kicked off of the NYSE due to the company’s incredibly low share price and market cap.
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Zillow stock tanks

Suffers worst day since going public
Zillow’s stock dropped more today than it ever has in a day's trading following yesterday's release of the real estate giant's third quarter earnings report.
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Housing industry welcomes new Congress

Stress the need to keep focus on housing
While some midterm elections were still too close to call as of Wednesday morning, it was clear that Democrats will take control of the House of Representatives and Republicans will keep the Senate, and now the housing industry is welcoming the new Congress.
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“Alexa, get a RateStar quote"

Arch MI’s Alexa Skill leverages the growing number of users as the market for voice technology continues to rise
Amazon has transformed the dynamic of the average American household. Today, nearly 20% of Americans have access to a smart speaker and that number continues to grow. Amazon dominates the space with 61.9% market share and their Alexa, along with other smart voice devices, are becoming an integral part of our daily lives.
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MBA: Mortgage applications fall 4%

Seasonally adjusted Purchase Index reaches 2-year-low
Mortgage applications retreated 4% for the week ending November 2, 2018, according to new data from the Mortgage Bankers Association's weekly Mortgage Applications Survey. MBA Director of Economic and Industry Forecasts Joel Kan said it’s evident that housing inventory shortages continue to impact prospective homebuyers this fall.
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Democrats take control of the House

Maxine Waters to lead Financial Services Committee?
It’s official – Democrats took control of the House of Representatives. This will mean several changes to House committees including replacing current House Financial Services Committee Chairman Jeb Hensarling, R-Texas, who did not seek re-election this year. Now, Rep. Maxine Waters, D-Calif., could be stepping up to take his place.
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Resolute Bank returns to grassroots to build HECM business

Builds collaborative corporate culture to promote relationship marketing
It’s been a hard year for the reverse mortgage industry, and like other lenders in the space, Resolute Bank has used the down market to rethink its business strategy. In the wake of program changes, the reverse team at Resolute took a good look at its business structure and decided it was time to return to grassroots.
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Black Knight boosts origination system by acquiring Ernst Publishing

Ernst’s capabilities will be integrated into Black Knight’s LOS
Black Knight’s loan origination system is about to get an upgrade, as the company announced Tuesday that it acquired Ernst Publishing, a provider of technology and closing cost data for the real estate and mortgage finance industries and previous honoree as a HousingWire Tech100 winner.
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More of the same: Third quarter brings another loss for Ocwen

Nonbank reports loss of $41.1 million in Q3
Put simply, it was the same song, different verse for Ocwen Financial in the third quarter. Another quarter, another loss. Ocwen reported Tuesday that it posted a net loss of $41.1 million in the third quarter, a significant drop over last year, when the company lost $6.1 million in the same time period.
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