Items Tagged with 'Nonbank'

ARTICLES

  • 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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  • Nationstar posts net loss of $20 million, but the news is better than it seems

    Adjusted earnings rises to $42 million
    Nationstar Mortgage, the company soon to be known as Mr. Cooper, reported Thursday that it saw its first quarterly net loss in a year, but the news is actually better than it appears. Overall, Nationstar posted a GAAP net loss of $20 million (or $0.20 per diluted share) in the second quarter, but on an adjusted basis Nationstar saw earnings of $42 million, or $0.43 per share.
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  • Walter Investment hit with NYSE warning after shares stay below $1

    Shares traded at less than $1 for one month
    On Dec. 5, 2016, Walter Investment Management Corp.’s stock closed at $7.35. Since then, the nonbank’s stock dropped precipitously. So much so, in fact, that the stock is now trading well below $1 and the NYSE issued a warning stating the company is no longer in compliance with the stock exchange’s rules.
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  • It's official: Nationstar will become Mr. Cooper in August 2017

    Nonbank sets date for full rebrand
    A journey that Nationstar Mortgage first began way back in 2015 is nearing its conclusion, as the company announced Tuesday morning that it will officially transition and become Mr. Cooper in August 2017. Soon enough, Mr. Cooper will cease to be Nationstar’s future and become its present.
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  • Attempt two: loanDepot reconsiders filing for IPO?

    Withdrew first IPO consideration back in 2015
    A little more than a year after it withdrew its Initial Public Offering, loanDepot is reported to once again be considering the possibility of a stock offering. When loanDepot announced that it canceled its IPO, loanDepot CEO Anthony Hsieh said, “While an IPO continues to be an option, perhaps one day in the future, it’s not a necessity.” Could now finally be the right time for the company?
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