Mortgage Lenders Lift Originations, Earnings
As residential loan originations at independent mortgage bankers moved higher, production earnings swung back into the black. But originations and earnings fell short of a year earlier.
Retail, Wholesale HECM Channels Both Off in June
A monthly drop in federally insured reverse mortgage production impacted retail and wholesale channels alike. Overall business has since moved higher.
Mortgage Lenders Report Strong Activity
One mortgage lender has experienced record origination activity thanks to its correspondent division, while another lender that made a recent wholesale acquisition is also reporting record activity.
Non-QM Product Launches
A new program has been launched that provides home financing for borrowers who don't necessarily meet the requirements for a Qualified Mortgage.
Stonegate YOY Origination Growth Surpasses Industry
While most lenders' home loan originations trekked downhill in second-quarter annual comparisons, one company bucked the trend.
Wholesale Lender Offering Alt-QM Program
A new program accommodates higher debt-to-income ratios, self-employed borrowers and jumbo investor loans -- among other things.
Provident Originations, Servicing Up, Staffing Off
Although there was a quarterly blossoming in originations and servicing, Provident Funding Associates LP fell short of a year earlier. Employee headcount was off but up slightly in the yearly comparison.
Proprietary Reverse Mortgage Origination Sinking
Originators of proprietary reverse mortgages have seen business worsen for three months in a row. On the government-insured side, wholesale reverse lenders have experienced a bigger drop over the past year than retail lenders.
Lenders Load Up on Production Executives
Among several recent executive appointments at home lenders are senior positions in loan production -- including wholesale and correspondent lending. A small servicer named a leader for its new real-estate-owned division.
Wholesale HECM and Proprietary Reverse Biz Sink
Among originators of proprietary reverse mortgages, month-over-month volume tumbled by more than a quarter. On the government side of the business, wholesale production was down nearly a fifth.