"Because we are constantly creating MSRs through our mortgage origination business, we are regular sellers of MSRs because we are mindful of our Basel III limit," said Lee Smith, Flagstar's chief operating officer, referring to capital restrictions on mortgage servicing rights.
With an improving economy, higher-quality originations and declining delinquencies, the market for mortgage servicing rights is catching fire. more »
"Universities are the new Ellis Island," said Kalpesh Kapadia, chief executive and co-founder of SelfScore, which aims to extend credit to foreign students in the U.S.
Students used to leave college with two artifacts of their first experiments with credit free T-shirts and, for better or worse, a credit file. Today they are leaving without either. more »