Cenlar FSB names Jim Daras as CEO and president Cenlar FSB, the second-largest mortgage servicer and largest sub-servicer in the U.S., has appointed D. James ‘Jim’ Daras as its CEO and president. Daras’ professional career spans more than four decades in the banking and mortgage ba

AmeriSave accused of defamation, failure to pay wages in lawsuit A group of 11 former employees are accusing AmeriSave Mortgage Corp. in a new lawsuit of failing to pay the wages, bonuses and commissions that were agreed to when they were hired by the company. The group also alleges that the compan

Housing Market Tracker: Housing inventory falls once more We are off and going now, as seasonality has kicked into full gear with the purchase application data. And, so far, it’s been a good start to the year. Here’s the housing market rundown for the last week: Purchase application data

How JVM Lending plans to expand without any loan originators Most retail lenders are desperately seeking high producing loan originators to make up for the losses that occurred in 2022. The majority of lenders easily lost half of the volume last year that they originated in 2021, and LOs who have t

Biden administration rolls out renter protections as rent prices soar As housing prices remain high across the nation, the Biden administration is taking action. The administration announced new actions earlier this week to protect access to housing and make rentals more affordable. According t

Top Fairway LO Dave Medina decamps for Movement Mortgage to spread his wings Top-producing loan officer Dave Medina and his team at the Temecula, California-based branch have left ​​Fairway Independent Mortgage to join Movement Mortgage. The move, which marks the start of Movement’s b

Old Republic’s net income was down over 55% in 2022 The rapidly cooling housing market in 2022 was not kind to Big Four title insurer Old Republic. While the century-old firm, which is celebrating its 100th anniversary in 2023, did generate net income for both the fourth quarter of 2022 as well a

Pending home sales rise for the first time since May 2022 Pending home sales ended 2022 on a positive note. After six consecutive months of declines, the Pending Home Sales Index rose 2.5% month over month in December to a reading of 76.9, according to data released Friday by the National Associat

Flagstar Bank makes big cuts to retail mortgage operation Two months after receiving the Federal Reserve’s approval to merge with New York Community Bank, Michigan-based Flagstar Bank is reducing its footprint in the retail channel and laying off hundreds of staffers, according to laid off employ

Expansion-hungry APM acquires over two dozen Lend Smart branches California-based lender American Pacific Mortgage (APM) announced an asset purchase agreement with retail lender Lend Smart Mortgage on Thursday in its latest move to drum up production across the country.  APM bought assets that