Some Mini-Correspondents Subject to Broker Rules
Guidance has been issued to help mortgage brokers that are transitioning to mini-correspondent lenders better understand whether they are still subject to broker rules.
Brokers Drive Increase in Mortgage Jobs
A monthly increase in the number of mortgage brokers more than offset a dip in other mortgage jobs. The U.S. job market overall saw a healthy gain last month, placing upward pressure on mortgage rates.
Mortgage Brokers Trim Jobs, Non-Bank Lenders Expand
A slight increase in employment at non-bank mortgage lenders wasn't enough to offset a monthly decline at mortgage brokers. But gains were made among all U.S. industries.
Mortgage Jobs Down, Mortgage Rates Up
A solid showing for U.S. employment wasn't enough to bolster monthly mortgage employment numbers, but it was enough to push mortgage rates higher.
Brokers Sustain Month's Mortgage Employment
Even though U.S. job growth has accelerated, it still was less than investors were hoping for. Monthly mortgage industry staffing was mildly lower but could have been worse were it not for brokers.
Mortgage Broker Wins Appeal in Wholesaler's Lawsuit
A mortgage broker that was found liable for a fraudulent power of attorney used in a refinance transaction appealed the decision -- and won.
New Wholesaler Adding Brokers, Employees
While mortgage brokers have recently lost access to a number of wholesale lenders, one new entrant is quickly ramping up its staffing and client base.
Mortgage Jobs Plummet
The mortgage industry lost more than 2 percent of its workforce during a single month. The news, however, was better for other U.S. industries -- sending interest rates higher.
The Wholesale Mortgage Business
Wholesale providers of home loans are expanding their territories, improving their technology and polishing their brands as they seek to garner a bigger share of the mortgage broker market.
5th Consecutive Month of Mortgage Job Losses
Mortgage employment suffered its fifth straight month of declines. Job growth weakened for all U.S. industries as a whole.