Despite the fact that many lenders are shedding their wholesale channel, panelists at the 11th Annual SourceMedia Mortgage Technology Conference in Orlando, Fla., indicated that wholesale will make a comeback. "Wholesale is not dead," said Greg Smith, vice president and general manager at e-collaboration vendor Xerox Mortgage Services. "It will be reborn. However, in the more near term, lenders will focus on retail and online retail channels." The key to the rebirth of wholesale will be greater adoption of automated fraud detection and compliance tools to ensure loan quality, Ellie Mae chief strategy officer Jonathan Corr acknowledged. Mr. Smith concluded: "In the process of adopting such quality-control tactics, lenders can also use technology to create a high-touch environment to actually help their broker partners be more competitive themselves."
-
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
44m ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
3h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
5h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
5h ago -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
10h ago -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
April 24