Radian announces exit of CFO Sumita Pandit, elevates finance leaders
U.S. mortgage insurer Radian Group Inc. said that president and chief financial officer Sumita Pandit is departing the company effective Thursday.
Servicing
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Mortgage escrow misconceptions persist as payment amounts rise
Most homeowners are surprised by escrow payment increases, with 62% citing higher property taxes as the cause.
Exclusive: Pennymac to acquire subservicing giant Cenlar for $257.5M
Pennymac’s first M&A deal adds 2 million loans and expands its mortgage servicing to more than $1 trillion in unpaid principal balance.
Stewart acquires MCS’s mortgage services business for $330 million
Stewart Information Services Corp. has entered into an agreement to acquire the mortgage services of property preservation provider Mortgage Contracting Services (MCS) for $330 million.
Exclusive: CrossCountry Mortgage CEO unveils organic growth strategy
Rather than pursuing mergers and acquisitions to strengthen its origination and servicing platforms, the company has focused on organic growth by acquiring mortgage servicing rights (MSRs) and building an asset management arm
Who keeps the borrower? A deep dive into servicer retention
Data from ICE Mortgage Technology shared with HousingWire offers a deep dive into servicers’ performance at keeping a borrower in their books after a refinance transaction.
Analysts split on what happens next with Rocket–Mr. Cooper servicing book
The regulator imposed a 20% cap on Fannie and Freddie servicing exposure, raising questions about how much room Rocket has to expand.
Cypress Loan Servicing settles foreclosure case for $2M
Cypress reached a $2 million settlement with the Massachusetts AG over alleged violations of foreclosure prevention and consumer protection laws.
PennyMac, the top dog in correspondent, says its broker business is booming
PennyMac said that over 5,100 brokers are approved to do business with the lender, up 19% year over year.
After the Bayview deal, what’s the refi strategy for Guild Mortgage?
Guild LOs said they have yet to receive any guidance on how the two platforms would collaborate after the deal closes.