Correspondent

The appointment of the mortgage veteran comes as the lender undergoes marketing and branding pivots, including its recent name change from Nexa Mortgage.

As 2025 approaches, some lenders are already scaling operations, hiring talent, and preparing for the next cycle, despite ongoing market uncertainty, write leaders from Pennymac.

The correspondent giant says it has over 4,400 approved brokers, and technology rivaling channel leaders Rocket Pro TPO and United Wholesale Mortgage.

The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.

The company has been making investments in correspondent originations and servicing and “reverse” loans used by borrowers age 62 and up to withdraw home equity.

Loans bought on the secondary market have become increasingly important as borrower demand has ebbed and companies have sought to obtain mortgages through additional outlets to maintain production levels.

First quarter volume was up 3% among eight depositories that reported so far, compared with models that predicted industry-wide drops as large as 13%.

The former No. 2 at Countrywide had been battling brain cancer prior to passing away from the coronavirus.

The software will aim to take advantage of the anticipated volume growth in this particular type of origination.

The company is following in the footsteps of Michigan-based rivals Rocket Cos. and United Wholesale Mortgage.

The problem in the sector boils down to a lack of portability of data, whether it’s digital or contained in documents, that can be trusted between parties, LoanLogics Chief Product Officer Dave Parker argues.

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.

The company had lower losses on its mortgage servicing rights investments compared with the second quarter.

This unit helps Axia increase market penetration to the more densely populated areas of the state.

Freedom Mortgage's acquisition of RoundPoint Mortgage Servicing gives it a MSR portfolio of over $300 billion.

The FHFA director’s move this week to impose an “adverse market fee” of 0.5% on most refinanced mortgages will shift billions out of the hands of American consumers and into the hands of Fannie Mae and Freddie Mac — and their private shareholders.

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million.

Planet Home Lending took advantage of coronavirus volatility and low mortgage rates to increase its funding volume.

Andy Peach is leaving after less than a year in the top spot.

Video conferencing might replace some in-person meetings even after people can go back out on the road again.