Growing Non-QM Wholesaler Adding TX Staff
A wholesaler that has capitalized on the origination of loans that don't meet the requirements for Qualified Mortgages has opened a new Texas facility with plans to hire dozens of new employees.
Management Shakeup As Impac Swings to Loss
Earnings swung to a loss at Impac Mortgage Holdings Inc., and the company's chief is out. Retail lending led a plunge in originations even as non-QM business soared. Annual wholesale lending was down.
Churchill Mortgage Adds Wholesale Originations
Home lending activity turned lower at Churchill Mortgage Corp., as did headcount. The company has started reporting originations through the wholesale channel.
Brokers Drive Up Banks' Mortgage Market Share
Home lending retreated last year. Non-banks lost quarterly market share to financial institutions as a surge in quarterly wholesale lending drove up banks' share.
Worst Wholesale Mortgage Lenders
A ranking of wholesale mortgage lenders has the likes of Freedom Mortgage Corp. and Stearns Lending LLC listed among the worst wholesalers.
Retail, Reverse Overcome Lending Slump at Ocwen
Total mortgage originations weakened last year at Ocwen Financial Corp. But retail lending and reverse mortgage production both significantly increased. Also improving was delinquency. Annual wholesale originations fell.
Mortgage Broker Group Launches
A new trade group was launched for mortgage brokers with plans to bolster wholesale market share. Over a thousand people joined the first morning. The group's inaugural convention takes place in Sin City.
Originations Fall, Servicing Grows at PennyMac
Home-lending activity slowed at PennyMac Financial Services Inc. But the company reported growth in both its servicing and staffing.
Home Lending Up from Prior Qtr, Yr at Flagstar
Flagstar Bancorp Inc. accomplished what none of its peers thus far have; it generated a quarter-over-quarter and year-over-year increase in mortgage originations. Mortgage assets also expanded. More than a tenth of originations were from the wholesale lending channel
Annual Originations Slip at Finance of America
Mortgage production last year was down slightly at Finance of America Holdings LLC. Also lower was the servicing portfolio and headcount.