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.
Home Lending Up from Prior Qtr, Yr at Flagstar
Flagstar Bancorp Inc. accomplished what none of its peers thus far have; it generated a quarter-over-quarter and year-over-year increase in mortgage originations. Mortgage assets also expanded. More than a tenth of originations were from the wholesale lending channel
Annual Originations Slip at Finance of America
Mortgage production last year was down slightly at Finance of America Holdings LLC. Also lower was the servicing portfolio and headcount.
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.
The Money Source Expanding Staffing, Servicing
A complete makeover planned at The Money Source Inc. will be accompanied by substantial expansion of its staffing and mortgage servicing portfolio. Its wholesale lending subsidiary is being folded into the parent company.
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.
Wholesaler, Bank and Credit Union Fail
Over the past month, mortgage-related businesses to close or fail include a bank, a credit union and the wholesale division of a large bank.
Mortgage Production Profits Sink
While home lenders experienced an increase in average origination fees, quarterly net income still was down. Secondary marketing income drove quarter-over-quarter deterioration.
Wholesaler, M.I. Firm Capitalize on Mobile Trend
As mobile adoption grows at a robust pace, a wholesale mortgage lender and a mortgage insurance company have positioned themselves to capitalize on the trend.