Prime Wholesalers Cut Back as Commercial Gets Aggressive
Several large prime wholesale lenders notified mortgage brokers or correspondents that they have cut back on programs and tightened guidelines. But a number of commercial and hard-money lenders are promoting aggressive broker programs.

Technology Improves Originations
A number of electronic offerings promise to improve the marketing and origination of conventional and government loans. Other advancements in mortgage technology include the integration of digital documents and signatures, easy compliance with upcoming appraisal changes and the adoption of a wholesale program search engine.

First Step in Commercial Mortgage Origination
An important part of the commercial mortgage brokering process is the fee agreement. Your wholesale lender will appreciate knowing that the borrower has just signed your fee agreement.

Mergers Progress as Industry Struggles with Liquidity
The financial sector continued to scramble in an effort to shore up capital, with two public offerings raising more than $7 billion and two major mortgage lenders facing mounting pressure to complete a number of transactions. In other corporate activity, a reverse mortgage wholesale lender has been acquired.

New Breed of Wholesalers
Hard-money wholesale lenders have stepped in to fill the void left by failed subprime wholesalers. Among loan programs being marketed are those that allow stated incomes, no minimum credit scores and commercial properties.

Wells Improves
Wells Fargo & Co.'s quarterly fundings, pipeline of new business and earnings improved from the prior period. Mortgage brokers and other mortgage bankers generated about 40 percent of the latest activity.

Solid Production Gains at JPMorgan
First quarter results were strong at JPMorgan Chase & Co. Residential originations climbed and earnings maintained. The wholesale channel accounted for nearly one-quarter of the latest fundings.

Wachovia Tightens Guidelines
Wachovia Corp. has made changes to its residential underwriting guidelines that will impact asset and employment verifications, loan-to-values and minimum credit scores on wholesale portfolio programs. Weak real estate markets will be affected the most.

Brokers, Appraisers and Securitizers Blamed for Meltdown
The former owner of a failed wholesale lender has authored a book that discusses his take on the causes of the mortgage meltdown. Among the culprits: mortgage brokers, appraisers, investment bankers and ratings agencies. Wholesalers, he wrote, were caught in the middle -- though they deserve a share of the blame.