Amid a tight housing market and rising rates, mortgage brokers and wholesalers have been engaged in an intense competition for control over borrower relationships.
A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.
Quicken Loans subsidiary One Reverse Mortgage is rolling out a private-label alternative to the Federal Housing Administration's Home Equity Conversion Mortgage that offers higher loan limits and more flexible underwriting terms.
Employment by nondepository mortgage companies in June increased for the third consecutive month as seasonal hiring continued even though home resales inched down another notch.
To keep winning business in an increasingly competitive loan channel, United Wholesale Mortgage is giving brokers more control of the borrower relationships that persist even after loans close.
United Wholesale Mortgage has set out to be an ally to mortgage brokers in unprecedented ways as CEO Mat Ishbia works to evolve the channel's transactional nature into a more relationship-driven dynamic.
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.
Despite recent industry consolidation, demand from seasonal homebuyers spurred hiring among nonbank mortgage companies for the second consecutive month in May.
Incenter Mortgage Advisors is facilitating the sale of more than $10 billion in mortgage servicing rights tied to Fannie Mae and Freddie Mac loans originated by mortgage brokers.
Angel Oak Commercial Lending has acquired a controlling interest in lender Cherrywood Mortgage in order to strengthen its focus on small-balance commercial lending.
