When big banks bailed on brokers during the housing crisis, United Wholesale Mortgage doubled down. As third-party originations now make a comeback, the family-owned company is determined to chip away at retail lenders' dominance.
Access to mortgage credit inched up in June, as competition for jumbo loans resulted in looser underwriting, but government lending standards got more restrictive, the Mortgage Bankers Association said.
The Consumer Financial Protection Bureau's practice of "regulation by enforcement" and use of nonbinding guidance materials makes its regulatory efforts "unfair and ineffective" to lenders and servicers, the Mortgage Bankers Association said.
Commercial and multifamily mortgage debt outstanding grew $44.3 billion during the first three months of 2018, the largest first-quarter gain since before the Great Recession, according to the Mortgage Bankers Association.