Customers of Prime Alliance, Tukwila, Wash., originated over $22.5 billion in loan volume in 2004, or about the size of the 11th largest U.S. retail mortgage lender.According to Prime Alliance, the company now has almost 40% of the total credit union market, nearly double last year's market share. "Our vision is to Web-enable a fragmented mortgage industry and process through strategic partnerships with key market aggregators," said Steve Mase, Dexma president. "The success of Prime Alliance and Prime Alliance Services Co. is indicative of what can be accomplished when we put our heads together with a forward-thinking business partner who's ready to seize a significant market opportunity." Prime Alliance, a partnership between Dexma and Boeing Employees' Credit Union, now comprises over 75 credit union and CUSO (credit union service organization) customers representing more than 400 credit unions. Prime Alliance can be found on the Web at http://www.primealliancesolutions.com, and Dexma can be found at http://www.dexma.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28