We're starting to hear whispers that some regional banks might step up to the plate on warehouse lending -- but not necessarily in a major way. One warehouse executive told us that Branch Banking & Trust is looking at making direct lines of credit to non-banks. He noted that "regional banks are dipping their toe in it but they're only taking on a $10 million to $15 million exposure." The wild card for the sector is whether Wells Fargo & Co. will ramp up the warehouse business of Wachovia Corp., which it bought a few months backâ¦
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Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume.
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The buyer will add around 800,000 loans to its hefty servicing portfolio, while Valon said it will shift away from servicing to focus on technology.
May 7 -
The new law, which will mandate the Bureau of Indian Affairs to approve or deny loan applications within 30 days, passed with wide bipartisan support.
May 7 -
The real estate technology company reduced its workforce and consolidated select vendor relationships. These moves will save the company roughly $2 million.
May 7 -
The lenders' examples of using generative artificial intelligence were more practical than transformational, but in any case data challenges represent a common problem.
May 7 -
The 30-year fixed spiked earlier in the week, but fell as Middle East news helped to drive the 10-year Treasury yield lower by 9 basis points by Wednesday.
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