Citi Abandons Broker Business
Citigroup Inc.'s mortgage lending unit is getting out of wholesale lending.

Wholesalers Step Up Reverse Business
Third-party originators stepped up their monthly production of federally insured reverse mortgages, though the same couldn't be said for retail originators. But the improvement in wholesale was enough to offset the retail decline and push overall activity up.

2011 Bank Failures On Track for 3-Year Low
After several consecutive weeks of no U.S. bank failures, regulators put an end to the streak. But this year will likely see fewer than a hundred bank failures -- the lowest level in three years. A wholesale lender has suspended new business and a reverse mortgage correspondent lender has restricted its purchases.

Wholesaler Launches Jumbo Product
A new jumbo product is being rolled out by a wholesale lender that claims to offer the only non-conforming product that can be closed within two weeks. The program is expected to result in higher originations for the wholesaler.

Another New Low for Wholesale HECM Lenders
After reaching the lowest level on record, the origination of federally insured reverse mortgages by wholesale lenders fell again. Even retail-originated business deteriorated.

Third-Party Lender Exits Massachusetts
A series of recent actions in the Commonwealth of Massachusetts seems to be sending a message to mortgage firms that they aren't welcome there, and at least one third-party lender is heeding the warning.

Former Subprime Executive to Head New Wholesaler
A new national wholesale lender is being led by an executive whose resume' includes senior executive positions at Encore Credit Corp. and New Century Financial Corp. The new company is recruiting a hundred employees.