Skyline Home Loans May Fund $2 Billion This Year

Skyline Home Loans, Calabasas, Calif., hopes to fund upwards of $2 billion in mortgages this year, almost double of what it did in 2011.

According to company CEO Bill Dallas, all of its production is retail-based. Skyline has no plans to enter the wholesale arena but Dallas said the company is open to the idea of correspondent lending.

Skyline, he said, wants to grow its servicing business and presently uses a subservicer. Dallas, who has been in the business for several decades, said "servicing-released premiums" continue to be poor.

Talking about the California market, he said purchase volumes are starting to pick up steam. “We may be seeing a quiet shift over to purchase money loans,” he said, adding that in certain California markets some median priced homes have received 30 to 50 offers.

“Our inventory [of homes for sale] is way down,” he said. “For median-priced homes in good areas there is just no inventory.”

Skyline is a privately held nonbank.