New Wholesaler Staffed By Millennials
A new wholesale mortgage lender is opening for business in a handful of states with plans to quickly expand to several more. Staffing is dominated by millennials.
Ocwen Unit Among Recent 3rd-Party Lenders to Close
Among three third-party mortgage originators that are closing is an Ocwen Financial Corp. unit. Multiple credit unions failed over this past summer.
Wholesalers Offer HECM, Investor and Alt-Doc Loans
Among the latest wholesale lending offerings are federally insured reverse mortgages, investor loans and non-agency alternative documentation loans.
Quicken Loans 3rd Party Unit Using Calyx-Powered LOS
A unit of Quicken Loans Inc. that originates through small financial institutions has turned to CalyxSoftware to power its loan origination system.
Mortgage Fraud Risk Rises, Could Climb Higher
A growing share of purchase-money and wholesale lending has helped to push up the risk of mortgage fraud. Also contributing were jumbo refinances.
Non-Banks Grab Mortgage Market Share from Banks
Over the past year, the nation's banks have given up mortgage market share to non-bank home lenders. Credit union share also widened.
Lower Staff Costs Help Mortgage Production Income
A decrease in employee expense was behind a quarter-over-quarter improvement in mortgage production earnings. But there was year-over-year deterioration.
New Wholesale Mortgage Lender Launches
An established retail home lender operating from New York state has launched a wholesale division to do business with mortgage brokers.
Mortgage Production Reports Vary Widely
Reports of mortgage production continue to roll in -- with some home lenders achieving new milestones, ranking at the top of their local markets or giving up on the business.
Investment Firm Acquires Wholesale Mortgage Lender
A private investment firm has has taken an interest in a Silicon Valley wholesale mortgage lender, enabling a geographic expansion and entry into new lending channels.