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.
Integrations Enhance Mortgage Pricing Engines
Recent enhancements to product eligibility and pricing engines include integrations with mortgage insurance companies and customer relationship management providers.
New Wholesaler Offers Conventional, Gov and Non-QM
A newly launched wholesale lending program will provide third-party originators with access to conventional products, government loans and reverse mortgages.
Mortgage Production Income Plunges
As independent mortgage bankers' quarterly lending slowed, income tumbled. Impacting earnings were personnel and direct-production expenses.
New Correspondent Program Launches
A new correspondent lending program that has been launched promises the benefits off correspondent lending without the associated risk.
New Tenants for Mortgage C-Suites, Boards
Free agency in single-family lending is in full swing, and moves have been made in the boardroom, C-Suites and mid-level management offices.
Impac Mortgage Originations Plummet by Half
Home lending at Impac Mortgage Holdings Inc. turned sharply lower -- plunging by half from the previous period. The servicing portfolio, though, grew.