Mortgage Jobs Expand, Bond Yields Decline
Not only did the number of non-bank mortgage jobs expand on a monthly basis, but a weak overall jobs report has bond yields -- and potential home loan rates -- lower today.
Worst Wholesale Mortgage Lenders
A ranking of wholesale mortgage lenders has the likes of Freedom Mortgage Corp. and Stearns Lending LLC listed among the worst wholesalers.
Mortgage Staffing Slashed Amid Strong Jobs Report
A strong employment report has already driven up interest rates. Despite the strength, the number of non-bank mortgages jobs, including mortgage brokers, declined by nearly 4,000 positions.
Prison for Mortgage Broker
A former Texas mortgage broker has received a prison sentence for his role in deceiving wholesale lenders on more than a dozen transactions.
Mortgage Broker Group Launches
A new trade group was launched for mortgage brokers with plans to bolster wholesale market share. Over a thousand people joined the first morning. The group's inaugural convention takes place in Sin City.
Originations Fall, Servicing Grows at PennyMac
Home-lending activity slowed at PennyMac Financial Services Inc. But the company reported growth in both its servicing and staffing.
Mortgage Staffing Expands as US Jobs Report Strong
New employment data, which has been revised for the past couple years, indicate job growth turned higher last month. Monthly mortgage jobs took a unexpected turn higher.
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.