Canary in the coal mine? Impac mortgage originations plummet in second quarter

Originations fall 42% from last year thanks to rising rates
Mortgage interest rates may have fallen ever so slightly in the last week, but on the whole, they’re on the way up and have been for quite some time. And the rising interest rate environment is hitting one lender quite hard. Impac Mortgage, which also operates CashCall Mortgage, revealed late Wednesday that its mortgage originations plummeted in the second quarter.
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Citizens Bank completes acquisition of Franklin American Mortgage

Deal originally valued at $511 million
Citizens Bank’s acquisition of Franklin American Mortgage is now complete. Citizens said that the deal will triple the size of its off-balance sheet mortgage servicing portfolio and more than double its mortgage origination platform. When it was announced, the deal was originally valued at $511 million.
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LRES announces new SVP of corporate administration

Jill Haro will oversee the vendor management department
LRES Corp., a national residential and commercial mortgage services company, recently announced it promoted Jill Haro to the position of senior vice president of corporate administration.Haro has more than 15 years of experience in the real estate mortgage services industry and was recognized as a vital leader in the effort to grow the company’s business and market share.
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Executive Conversation: Jason O'Brien on omnichannel payment solutions

SWBC offers payment solutions to meet the consumer demand for self-service options
Executive Conversations is a HousingWire web series that profiles powerful people in the financial industry, highlighting the operations and the people that make this sector tick. In the latest installment, we sit down with Jason O’Brien, senior vice president of payments at SWBC, to discuss the importance of an omnichannel payment strategy.
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Meet the Mr. Cooper Group: Nationstar completes merger with Washington Mutual parent WMIH

Company will change name to “Mr. Cooper Group” in the future
The merger between Nationstar Mortgage, the nonbank now known as Mr. Cooper, and WMIH Corp., the former parent company of Washington Mutual, is now complete. The newly combined company will also lean hard into the Mr. Cooper brand, which Nationstar officially adopted last year and began moving toward way back in 2015.
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From HW Magazine

2018 Women of Influence: Cheri Lines

Vice President of Technology at Nexsys Technologies
In addition to expanding who the product serves, Cheri Lines led improvements to the reporting, automation features and custom integrations, helping to maintain both the largest lender (Quicken Loans) and the largest settlement services provider (Amrock) as clients. Due to her incredible work at Nexsys Technologies, Lines earned a promotion to vice president of technology this year. Lines is a 2017 HousingWire Rising Stars winner, and is a major reason why Nexsys Technologies’ won the Tech100 award two years consecutively.
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From HW Magazine

2018 Women of Influence: Ann Song

Senior Vice President of Operations, LRES
Ann Song joined LRES in 2014 as vice president of REO Asset Management, but her talent, knowledge and determination were all readily apparent and she quickly made her way up the company ladder. Now serving as senior vice president of operations, Song oversees the company’s appraisal operations group, including the valuation assignment and quality control departments.
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