Lenders One Mortgage, the St. Louis-based cooperative, has selected Clayton Staffing Solutions, Shelton, Conn., to provide contract Federal Housing Administration and conforming mortgage underwriters to its members who need them to deal with temporary or full-time capacity issues. Clayton could also provide personnel for closing, processing, quality control, default management and servicing functions. Lender One members have the option of having the staffers work out of their locations or at Clayton's National Operations Center in Tampa, Fla. Luke Pille, Lenders One director of National Programs, said the arrangement helps members to capitalize on current market opportunities and to have the option of taking fixed labor costs and converting them to variable costs. Clayton's database of potential staffers includes over 10,000 underwriters and processors nationwide.
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Non-qualified mortgages account for 23.1% of the series 2026-7 pool, by balance, and 43.4% of the loans in the pool were made to investors for business purposes and are exempt from the Ability-to-Repay rules.
September 23 -
Besides promoting Sridhar Sharma to CEO from president, the company named Andrew Bon Salle, ex-Fannie exec, as its new chairman, both replacing Chris Marshall.
September 23 -
Several proposed updates, including lower risk-weight floors for certain securitizations and corporate loans, could make it more attractive for banks to finance or hold certain private credit-related assets, experts say.
September 23 -
Federal Reserve Gov. Michael Barr appears to be among the majority of monetary policymakers who foresee at least one more rate hike before the end of the year.
September 23 -
Attom expanded its artificial intelligence platform, eLend partnered with Ready4Remodel to increase renovation financing and Keller Williams teamed up with Rejig.ai.
September 23 -
Several lawsuits filed this year have painted the shared appreciation agreements as misleading, and suggest they should be treated as mortgage loans.
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