PennyMac Opens Broker Channel; New #1 Wholesaler?
Following months of waiting, mortgage brokers can now add PennyMac Financial Services Inc. to their roster of wholesalers. With its entry, the fast-growing lender is poised to become a big player in the wholesale channel.
3rd Month in Row of Mortgage Job Losses
Amid a relatively weak U.S. jobs report, the number of non-bank mortgage jobs retreated for the third consecutive month.
Wholesale Lenders Promote Non-QM, Alt-A Programs
Several wholesale mortgage lenders are now offering Non-QM programs. Other recently announced offerings include Alt-A, jumbo and nonprime programs.
Mortgage Brokers Operated AMC to Influence Values
The owners of a Chicago-area mortgage brokerage are accused of operating an appraisal management company in order to influence appraised values on fraudulent loans.
Mortgage Staffing Drops Despite Strong Jobs Report
Although U.S. employers in all industries saw robust hiring last month, the latest statistics for the mortgage industry indicate that staffing contracted again.
Broker Channel Launch Imminent at PennyMac
Earnings and mortgage originations at PennyMac Financial Services Inc. saw quarter-over-quarter gains and year-over-year losses. A wholesale channel is about to open.
US Employment Soars as Mortgage Jobs Contract
The employment report for last month was a stark improvement from the dismal report for September as unemployment fell to its lowest level since 2000. Mortgage staffing was reduced, though.
Mortgage Jobs Rise Despite Weak Employment Report
While the nation's overall employment was battered by the recent hurricane activity, non-bank employment within the home-lending sector moved higher.
Mortgage Jobs Fall as US Employment Data Weakens
Monthly job growth within all U.S. industries weakened as unemployment worsened. After rising four straight month, non-bank mortgage employment retreated.
New Wholesale Mortgage Lender Launches
An established retail home lender operating from New York state has launched a wholesale division to do business with mortgage brokers.