More LOs in Mortgage Business, But Fewer Banks
Compared to a year ago, there are more loan originators working for fewer mortgage firms. The decline was due to a drop in the number of financial institutions.
Guaranteed Rate Hires Dozens of Discover LOs
Dozens of loan originators recently displaced by the closing of Discover Home Loans Inc. have been hired by Guaranteed Rate Mortgage.
Acquisitions Create Lending Giant
The mortgage subsidiary of The Blackstone Group LP has made several recent acquisitions that position it to be among the nation's largest non-bank home lenders.
Freedom Mortgage Makes Acquisition
Just a few months after disclosing plans to seek out new opportunities, Freedom Mortgage Corp. has made an acquisition.
Bank Mortgage Lenders and Originators Decline
Compared to a year ago, the number of financial institution mortgage lenders and their loan originators has declined, while non-bank lenders and originators have increased.
Mortgage Firms Set Up Shop in New Locations
Several mortgage companies have opened new offices in eight different states. In addition, a recruiting firm seeks mortgage professionals for branches in the Lone Star State, on the East Coast and on the West Coast.
CO, VA Among Top 5 States in Mortgage Originations
Data on mortgage licensing activity indicates that Colorado and Virginia were among the top-five states in residential loan production by state-licensed originators.
Mortgage Lenders Spread Through New Branches
In recent mortgage branch activity, one recruiter said it was actively hiring on behalf of a lender, and another released a time-saving tool for opportunity seekers. Meanwhile, several lenders built new shops, with some offices serving as the inaugural company foothold in a previously unexplored target market.
State Licensed LOs Increase, Bank LOs Down
From the end of 2013 through the end of 2014, the number of state-licensed loan originators rose, while bank registrations declined. California saw dozens of firms lose their licenses.