Contraction Continues With Mortgage Jobs
While the country as a whole continued to add jobs at a healthy pace, the mortgage sector continued to lose jobs. Mortgage employment was higher, however, on a year-over-year basis.
New Broker Originations Performing as Well as Retail
Recent mortgage originations generated through third-party channels are performing nearly as well as loans originated through the retail channel.
Wholesaler Recognized for Support of Mortgage Brokers
A wholesale lender has been recognized for its support of mortgage brokers. High quality customer service was cited among its strengths.
Mortgage Jobs Continue to Diminish
The latest reading on mortgage jobs was worse, though staffing was higher than a year earlier. Overall U.S. employment, on the other hand, made healthy gains last month -- sending bond yields into the stratosphere.
Wholesale Lenders Expand Offerings, Clients
Several wholesale mortgage lenders have recently widened their offerings and expanded their customer bases. Among the new offerings are loans with special pricing, jumbo products and no-escrow programs.
SunTrust Abandoning Mortgage Broker Business
SunTrust Banks Inc. has made a decision to close its mortgage broker lending business. The move is likely to reduce residential originations by more than 10 percent.
Wholesale AE, Broker-Husband Admit to Mortgage Fraud
A subprime wholesale lending account executive and her husband, who was a mortgage broker, have admitted to defrauding her now-defunct employer using fake income and employment documents.
Former Subprime Chief Returns to Wholesale
The former chief executive officer of a subprime mortgage wholesale lender has launched a new wholesale lending company.
Mortgage Jobs Decline Despite U.S. Expansion
Although U.S. unemployment fell to the lowest level in nearly five years, jobs in real estate finance began what is likely to be a painful contraction.
Production Falls, Servicing Grows at Stearns
Residential loans originations slowed during the most recent quarter at Stearns Lending Inc. as the lender also trimmed its staffing. But the mortgage servicing portfolio continued to expand.