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.
LOS Providers Prepare for HMDA Reporting Changes
Multiple loan origination systems are ready for upcoming changes to Home Mortgage Disclosure Act reporting requirements. Meanwhile, an LOS has been designed for hard-money lenders. A wholesale lender has adopted a new LOS.
Impac's Lending, Servicing Rise as Earnings Plunge
Impac Mortgage Holdings Inc. expanded its servicing portfolio and had a quarter-over-quarter gain in originations. But earnings deteriorated.
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.
Staffing Expands at Finance of America
Home-lending activity saw a quarter-over-quarter gain and a year-over-year loss at Finance of America Holdings LLC. Headcount continued to grow.
New Wholesaler Staffed By Millennials
A new wholesale mortgage lender is opening for business in a handful of states with plans to quickly expand to several more. Staffing is dominated by millennials.
Ocwen Unit Among Recent 3rd-Party Lenders to Close
Among three third-party mortgage originators that are closing is an Ocwen Financial Corp. unit. Multiple credit unions failed over this past summer.
Wholesalers Offer HECM, Investor and Alt-Doc Loans
Among the latest wholesale lending offerings are federally insured reverse mortgages, investor loans and non-agency alternative documentation loans.
Quicken Loans 3rd Party Unit Using Calyx-Powered LOS
A unit of Quicken Loans Inc. that originates through small financial institutions has turned to CalyxSoftware to power its loan origination system.