Per Loan Profits Plunge for Mortgage Lenders
As residential loan originations slid in the third quarter, the bottom line per loan plummeted due in large part to rising per-loan employee costs and dwindling secondary marketing gains. Still, per-loan revenue move higher.
Wholesaler Offers Lender Paid M.I.
A wholesale mortgage lender operating out of California is now offering a mortgage insurance product that is paid by the lender.
Carrington Expands Wholesale, Add Employees
An expansion of its wholesale lending channel has Carrington Mortgage Services LLC opening a new office and adding new employees.
Mortgage Fraud Risk Rises, Jumbo Riskier
The risk of mortgage fraud increased during the latest three-month period -- with identity and occupancy fraud risk seeing the most deterioration. New data suggests that jumbo mortgages present more risk than non-jumbo loans. A community that borders Arkansas and Missouri is one of the nation's worst hot spots.
Wholesaler Recognized for Support of Mortgage Brokers
A wholesale lender has been recognized for its support of mortgage brokers. High quality customer service was cited among its strengths.
Growth in Stonegate Originations Likely to Continue
Stonegate Mortgage Corp. is just about the only home lender that has been consistently growing its originations and is likely to continue doing so.
Refi Layoffs Hit Fifth Third Wholesale Employees
Fifth Third Bancorp's wholesale lending division is responding to a slowdown in refinance production by cutting it mortgage staff.
New Business Slumps at Impac
Quarterly mortgage originations turned lower at Impac Mortgage Holdings Inc. , with even year-over-year lending activity came up short.
Nationstar Exiting Wholesale Lending
Nationstar Mortgage Holdings Inc. is unloading its wholesale lending business. But mortgage brokers will still have access to the unit.
Originations Tumble at United Shore
Quarterly mortgage production turned lower at United Shore Financial Services LLC, and staffing was also down. Year-over-year metrics, however, expanded.