Mortgage PPEs Enhanced, Implemented by Lenders
Mortgage technology service providers have teamed up to enhance product-and-pricing engines and improve the lending process. Mobile adaptation is behind some of the enhancements.
Retail HECM Originations Up, Wholesale Down
While the monthly volume of government-insured reverse mortgages increased from the retail channel, the wholesale channel experienced a decline.
Mortgage Closures Include Wholesale, Correspondent
A correspondent investor, wholesale lender and bank were among recent mortgage-related entities to meet their end. A failed credit union is back, though.
Losses, Servicing, Staff Cut at Stonegate Mortgage
Stonegate Mortgage Corp. trimmed the size of its staff, reduced its servicing portfolio and cut its losses. Lending slowed from a year ago.
PennyMac Home Lending Up, Wholesale Launch Ahead
Quarterly home loan production surpassed prior period totals at PennyMac Financial Services Inc. A new wholesale lending channel is planned.
Ocwen Mortgage Originations Bounce Up
After falling to a four-year low, quarterly mortgage originations bounced higher at Ocwen Financial Corp. Servicing and staffing both saw a decline.
Stunning Surge in Fairway Mortgage Originations
Quarterly home lending activity soared by nearly two-thirds from the prior period at Fairway Independent Mortgage Corp. In addition, the size of the staff expanded.
Strong Quarter at Stearns Lending
Quarterly home lending climbed by more than a third at Stearns Lending Inc., while the mortgage servicing portfolio increased and staffing expanded.
Retail and Wholesale HECM Production Slumps
Government-insured reverse mortgage production was down again for both retailers and wholesalers, though wholesale has slowed for more consecutive months.
Banks Grab Mortgage Share Back from Credit Unions
Banks, which had been losing some of their mortgage market share to credit unions over the past couple of quarters, took some of it back.