Mortgage Executives Recruited, Promoted
Several residential lending firms have recently recruited or promoted executives. Among the areas of responsibilities for the group are third-party originations, mortgage servicing and mortgage technology.
PennyMac Enters Wholesale As Home Lending Slumps
After three consecutive quarters of originations gains, PennyMac Financial Services Inc. ended its streak. But a move into wholesale lending could help upcoming production.
Fairway Independent Mortgage Originations Double
Last year's new home lending at Fairway Independent Mortgage Corp. was nearly double the level of lending in 2014. Staffing and servicing also grew.
Stonegate Reduces Headcount as Originations Sink
Quarterly residential lending activity turned sharply lower at Stonegate Mortgage Corp., as did the size of the mortgage banker's staff.
Mortgage Wholesaler Launches Non-QM Programs
Multiple mortgage lending programs that don't meet Qualified Mortgage requirements are being offered to mortgage loan brokers.
Quarterly Business Slows at Stearns, Full Year Up
Quarterly mortgage originations were down by a fifth at Stearns Lending Inc., though annual production, servicing and staffing all moved higher.
Retail HECM Volume Rises, Wholesale Drops
In the reverse mortgage market, retail originators of government-insured loans lifted monthly business even as wholesale slowed. Proprietary volume weakened.
Mortgage Staffing Rises as Originations Drop
As quarterly loan production fell, independent home lenders added more employees -- lifting personnel expenses and cutting into profits.
Ocwen Unit Tops Monthly Proprietary Reverse Volume
As retail and wholesale government-insured reverse mortgage business fell, an Ocwen Financial Corp. unit was biggest among proprietary reverse mortgage lenders.
Fairway's Staff, Retail Mortgage Originations Up
Quarterly loan production at Fairway Independent Mortgage Corp. was virtually unchanged, though retail business moved higher. Also up was headcount.