United Wholesale Mortgage has set out to be an ally to mortgage brokers in unprecedented ways as CEO Mat Ishbia works to evolve the channel's transactional nature into a more relationship-driven dynamic.
Bank of America's residential mortgage origination volume fell short of last year's in its second-quarter earnings despite gains from digital sales and seasonal home buying, and broader consumer lending strength.
When big banks bailed on brokers during the housing crisis, United Wholesale Mortgage doubled down. As third-party originations now make a comeback, the family-owned company is determined to chip away at retail lenders' dominance.
This year's sluggish spring home buying season led to generally softer mortgage-related second quarter results at Wells Fargo, JPMorgan Chase, Citigroup and PNC Financial Services Group, but First Republic Bank bucked the trend.
The Trump administration's plan to end the conservatorship of Fannie Mae and Freddie Mac marked its first effort to solve a problem left over from the financial crisis, but ultimately raised more questions than it answered.