Court Orders 40-Year Listing Firm to Halt Mass. Loan-Making
Florida-based MV Realty must stop making mortgages in Massachusetts as part of a preliminary injunction granted last week by Suffolk Superior Court.
Leader Bank Launches Digital Insurance Agency
Arlington-based Leader Bank has launched an insurance subsidiary, a move the bank said would streamline the homebuying process for its clients.
LoanDepot Settles with State for $1M Over Servicing License
California-based mortgage company loanDepot has agreed to a $1 million settlement with the Massachusetts Division of Banks over allegations that it acted as a third-party mortgage servicer without registering with the state.
Wells Fargo to Exit Correspondent Lending, Shrink Servicing
Wells Fargo plans to reduce the size of its mortgage business, making changes that the bank said would see its home lending business focus on bank customers and minority communities.
Mortgage Applications Reach Lowest Level in 25+ Years
Amid current economic conditions and the typically low demand for mortgages at year-end, mortgage applications at the end of December reached the lowest level since 1996, according to the Mortgage Bankers Association.
Illinois Bank Expands Mortgage Lending to Massachusetts
An Illinois bank plans to hire 30 new loan officers and expand mortgage lending into several states, including Massachusetts, Connecticut and Rhode Island.
MBA Sees ‘Pockets of Weakness’ in Forbearance Data
While the number of homeowners in forbearance remained unchanged last month, the Mortgage Bankers Association said it saw signs of weakness in November’s data.
MBA: Purchase Applications Declined Despite Rate Drop
While November saw a nearly 1 percent drop in mortgage rates, the past four weeks have seen applications decrease overall more than 10 percent, according to the Mortgage Bankers Association.
Movement Mortgage to Acquire Danvers’ Mortgage Network
South Carolina-based Movement Mortgage plans to acquire Danvers-based Mortgage Network Inc. in a deal that Movement Mortgage said would expand its East Coast market share.
Guaranteed Rate Partners with Stavvy on E-Closings
Mortgage lender Guaranteed Rate has partnered with Boston-based financial technology company Stavvy to offer electronic closing services for all stakeholders in the mortgage process, including title and settlement agents.
Guaranteed Rate Launches Spanish-Language Mortgage Process
The lender wants to leverage both language and nuanced cultural references to gain customers who speak or prefer to interact only in Spanish.
KeyBank: Hackers of Third-Party Provider Stole Customer Data
Hackers stole personal data including Social Security numbers, addresses and account numbers of home mortgage holders at KeyBank, the bank reports, in the breach of a third-party vendor that serves multiple corporate clients.
Rocket Mortgage to Provide Loans to Santander Customers
After discontinuing mortgage lending earlier this year, Santander Bank has formed a partnership with Rocket Mortgage to provide home loans for the bank’s customers.
Geneva Financial Expands in Massachusetts
Arizona-based mortgage lender Geneva Financial has opened a new office in Rockland, with Patrick Queally as the branch manager.
MCBC: Black Borrowers Denied Mortgages at Higher Rates
Black borrowers with down payments of 20 percent or more were denied home mortgages in Massachusetts at higher rates than other borrowers in 2020, according to a new report from the Massachusetts Community & Banking Council.
MBA: Mortgage Forbearances Continue to Decline
While the pace of monthly forbearance exits has slowed, the number of borrowers in forbearance continues to decline, according to the Mortgage Bankers Association.
Top Mass. LOs Busy in Booming Market
Last year was one of the busiest on record for the state’s loan originators. So, who came out ahead in the $127.2 billion market? Banker & Tradesman has analyzed the results and identified the top loan originators in Massachusetts.
