Investment Firm Acquires Wholesale Mortgage Lender
A private investment firm has has taken an interest in a Silicon Valley wholesale mortgage lender, enabling a geographic expansion and entry into new lending channels.
Impac's Year-Over-Year Lending, Earnings Tumble
Impac Mortgage Holdings Inc.'s servicing portfolio has more than doubled over the past year. But year-over-year deterioration was reported for quarterly earnings and originations.
Fairway's Staffing, Servicing & Lending Expand
In addition to growing the size of its servicing portfolio and expanding its human resources, Fairway Independent Mortgage Corp. saw quarterly loan originations soar.
PennyMac Lending Rises, Launching Broker Channel
PennyMac Financial Services Inc. sees opportunity in mortgage brokers and is about to launch a broker business. Quarterly originations increased as earnings declined.
Alexa Helps Mortgage Brokers w/Pipeline Management
A wholesale mortgage lender is providing its mortgage-broker clients with hands-free access to current information about their loan pipelines.
Finance of America's Home Lending Increases
In addition to lifting home lending on a quarter-over-quarter basis, Finance of America Holdings LLC managed to maintain mortgage production on a year-over-year basis.
Mortgage Wholesalers Offer Nonprime, Non-QM, 120%
Recent offerings by wholesale mortgage lenders include nonprime programs, loans that don't meet Qualified Mortgage standards, and loan-to-value ratios up to 120 percent.
New Mortgage Wholesaler Expands Business
Fresh off a recently made major mortgage acquisition that included a wholesale lending business, Home Point Financial Corp. is expanding the unit.
Finance of America Lending/Servicing/Staffing Down
Quarterly mortgage originations were slower at Finance of America Holdings LLC. Also diminishing was the lender's staffing and servicing portfolio.
Credit Unions Gain Mortgage Market Share
As the quarterly volume of residential loan production sank, credit unions successfully captured a bigger piece of the U.S. mortgage market.