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Pennymac closes Tennessee branch, lays off loan officers

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Pennymac is closing its Franklin, Tennessee, branch and laying off staff within its consumer direct lending operations as a result of macroeconomic conditions, the lender confirmed Tuesday. Processing Content “Given the current market environment and following a careful review of our staffing needs, Pennymac has made the difficult decision to close its Franklin, Tennessee, site […]

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Ransomware group lays claim to Optimum First cyberattack

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A California direct lender is dealing with the effects of a new data breach, the latest in a number of purported cyberattacks on the mortgage industry perpetrated by ransomware groups.   Processing Content Huntington Beach, California-based Optimum First Mortgage initially learned of a data incursion around June 19, according to legal documents filed this week. Infiltrators

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Matt Budy of Dovenmuehle

Dovenmuehle’s new subservicing strategy targets onboarding

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Dovenmuehle, one of the oldest companies in the business, is changing the way it approaches subservicing. Processing Content The shift to what the company calls a diagnostic approach aims to address hurdles in the onboarding process, which many have cited as a point of potential friction for customer relationships and source of operational challenges.  The

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