Items Tagged with 'nonbank lending'

ARTICLES

  • Nationstar no more: Nonbank is now officially Mr. Cooper

    Company takes on most unique name in the mortgage business
    A process that began nearly two years ago is now complete. Nationstar Mortgage is now officially Mr. Cooper. Nationstar’s massive rebranding, which HousingWire first reported back in December 2015, became official on Monday morning, with the nonbank dropping the Nationstar name and becoming Mr. Cooper.
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  • Ocwen lays off 120 employees as cost-cutting continues

    Reduction made to 'better align resources' with current strategy
    Ocwen Financial is in the midst of what it already said would be a tough year for the company. To counteract the expected losses, Ocwen said that it is undertaking several cost-cutting efforts throughout 2016. Included in those cost-cutting efforts is a reduction in the company’s staff, as HousingWire can report that Ocwen recently laid off 120 employees from various office locations throughout the U.S.
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  • House passes sweeping change to loan originator licensing rules

    SAFE Transitional Licensing Act of 2015 moves to Senate
    The House of Representatives just passed a bill that could create a huge impact on the mortgage industry, as mortgage loan officers may soon be able to transition from a traditional bank to a nonbank and keep originating new mortgage loans without having to wait for a new license. Now, it's on to the Senate for the SAFE Transitional Licensing Act of 2015.
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  • Ocwen's black Monday: Nonbank discloses cavalcade of bad news

    Posts big loss in 2015, expects another in 2016, discloses SEC investigation
    Ocwen Financial reported its fourth quarter and full-year 2015 financial results on Monday morning, and the news wasn’t good. The nonbank disclosed that it posted a big loss in 2015, making it the second year in a row that the company took a loss. And not only did the nonbank take a loss in 2015, it expects to take another in 2016. And that’s not all. Ocwen also disclosed that it is currently under an SEC investigation.
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  • Ocwen now expects to record a loss in 2015

    Sets goal to become top 10 residential mortgage lender
    Citing lower revenue expectations coupled with higher expected operating, interest and tax expenses, Ocwen Financial now predicts it will post a loss in 2015. It would mark the second straight year with a loss for the once-booming nonbank.
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  • MBA's Cosgrove: The importance of nonbanks in the mortgage market

    The misperceptions of IMBs and other nonbanks
    In the wake of the financial crisis, nonbank lenders and servicers have witnessed a significant emergence in the mortgage business. In fact, independent mortgage banks are heavily dominating the single-family market. Yet misperceptions persist about the capacity of these IMBs and other nonbanks.
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