Millennia Mortgage Corp., Laguna Hills, Calif., has announced the formation of a wholesale division.Citing its history of offering niche mortgage products and a "dedication" to technology, Millennia said it is "poised to deliver quality product to its expanding broker base." The company said it sells directly to 16 investors, offering loan products such as home equity loans, home equity lines of credit, stated-income loans, and loans with high loan-to-value ratios.
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
