Job Growth in Mortgage Industry
As was the case for all industries, monthly employment expanded in the mortgage sector. The positive news hurt interest rates. Still, unemployment inched higher, and wage growth stalled.
Mortgage Wholesalers Offer Nonprime, Non-QM, 120%
Recent offerings by wholesale mortgage lenders include nonprime programs, loans that don't meet Qualified Mortgage standards, and loan-to-value ratios up to 120 percent.
New Wholesaler Offers Conventional, Gov and Non-QM
A newly launched wholesale lending program will provide third-party originators with access to conventional products, government loans and reverse mortgages.
Mortgage Staffing Grows Despite Weak US Employment
Aside from 16-year low unemployment, monthly jobs data indicate weak labor conditions -- driving down rates. But staffing expanded in the mortgage industry.
Brokers Drive Increase in Mortgage Employment
While the market is still digesting mixed monthly data on employment among all industries, mortgage brokers pushed up jobs in home lending.
Mortgage Staffing Expands in 2016
During all of last year, staffing in the mortgage industry expanded -- though rising interest rates are likely to reverse recent gains. California experienced the biggest quarterly gain.
Mortgage Jobs Decline Despite Broker Bump
Even though monthly headcount at mortgage brokers grew, overall staffing in real estate finance contracted. Among all industries, the data disappointed.
Mortgage Broker, Stepson Banker Convicted
A mortgage broker and her stepson, who was a banker, have been convicted in federal court of defrauding the California bank where he worked.
Brokers Pull Down Mortgage Employment
A month-over-month decline in the number of people working in real estate finance was the result of a drop in staffing at the nation's mortgage brokers.
Mortgage Jobs Continue to Expand
For the 10th month in a row, the size of the nation's mortgage workforce has expanded. Healthy job growth was reported for all industries.