Items Tagged with 'Nonbank'

ARTICLES

  • Here’s how much Mr. Cooper is paying to buy Pacific Union Financial

    SEC filing reveals financial details
    On Tuesday, Mr. Cooper, the nonbank formerly known as Nationstar Mortgage, officially confirmed that the company finalized its acquisition of Pacific Union Financial, a development that HousingWire first reported on Monday. What wasn’t known at the time or disclosed in Mr. Cooper’s announcement about the deal is how much Mr. Cooper is paying to buy Pacific Union, but an SEC filing reveals the financial details of the deal.
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  • Mr. Cooper acquires Pacific Union Financial

    Closes on acquisition first reported by HousingWire in November
    Mr. Cooper, the nonbank formerly known as Nationstar Mortgage, has now finalized its acquisition of Pacific Union Financial, a deal that was first reported by HousingWire in November. At the time, Mr. Cooper said that it planned on closing on the Pacific Union acquisition in “early 2019.” HousingWire can now report that the acquisition has been finalized.
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  • OCC to begin offering bank charters to nonbank fintech companies

    Move already angering state regulators
    Tuesday was a big day for fintech companies. In addition to the Department of the Treasury rolling out a series of proposals that could alter the playing field for fintech companies, the Office of the Comptroller of the Currency also announced Tuesday that it will begin offering bank charters to nonbank fintech companies.
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  • Trump administration calls for sweeping changes to financial ecosystem

    “Regulatory sandboxes,” eMortgages, online notarization, automated appraisals, more
    The Trump administration on Tuesday called for a series of changes to the country’s financial and mortgage ecosystems that, if enacted, would supercharge the financial industry’s technological revolution, upend the current regulatory environment, and potentially change the face of mortgage lending.
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  • Pennsylvania now requires nonbank servicers to be licensed to operate in state

    Deadline for licensing applications is June 30, 2018
    Nonbank mortgage servicers have five months to get licensed in the state of Pennsylvania if they want to keep operating in the state. The Pennsylvania Department of Banking and Securities announced this week that it will soon begin accepting licensing applications from nonbank servicers as part of the state’s move to increase oversight into mortgage servicing.
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  • Big banks release their hold on mortgage servicing industry

    But regional bank servicers on the rise
    Many of the big banks are among the nation’s top mortgage servicers by portfolio volume, however they are slowly beginning to release their hold on the market. Ongoing regulatory scrutiny is continuously pushing banks further away from servicing residential mortgage loans even as nonbanks continue to grow stronger.
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  • From HW Magazine

    Out of the shadows: How fintech is infiltrating the mortgage industry

    And what traditional lenders should be doing to adapt
    A study released in the National Bureau of Economic Research maintains that nonbanks, such as Quicken and loanDepot, essentially tripled market share for mortgage lending between 2007 to 2015. You read that right: tripled market share in less than 10 years. How is such a high level of disruption possible? Read on.
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  • 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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  • loanDepot CEO Anthony Hsieh shuts down 10 rumors about his company

    Writes straight-forward post on LinkedIn
    Anthony Hsieh is the founder and CEO of one of the most prominent nonbanks in the industry, loanDepot. For a CEO of a company that has funded more than $100 billion in loans since its inception, he regularly opens up a seat at the table for others to listen in on what it’s like to be at the helm of one of the biggest mortgage companies. Anyone who follows Hsieh on LinkedIn is privy to this. This latest post, in particular, caught a lot of attention.
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