Mortgage brokers

Employment in the nonbank mortgage lender and brokerage sector is falling in the face of rising interest rates and the limited supply of homes for sale.

Today's mortgage broker is tech savvy, sophisticated and better equipped to thrive in a wholesale channel that's far more competitive than in the past.

Mortgage lenders are embracing the broker-wholesale channel as a low-cost way to extend their reach and maintain volume in the face of rising home prices and interest rates that are putting a damper on origination activity.

Tight margins, regulatory clarity and a renewed appetite to expand have made mortgage brokers and the wholesale channel attractive again, at least to the small and medium mortgage lenders.

The deadline to participate in the Top Producers Survey is Wed. Feb. 28 at 6 p.m. EST. The 20th annual loan officer ranking has a number of new features to highlight the accomplishments of the industry's top performers.

A December hiring spike at nondepository mortgage originators ended a three-month skid and solidified the fourth straight year of job gains in the sector. But with loan volume projected to decline again in 2018, it remains to be seen whether nonbanks will add more workers or start making cuts.

The 2018 Top Producers Survey is now open for submissions. This year's program features a number of new and exciting features designed to provide insights into key industry trends and feature the accomplishments and successes of individual loan officers.

PennyMac Financial Services Inc. is setting up its new mortgage broker channel to target home-buyer and higher-balance loan segments, and eventually become one of the dominant players in the space.

Refinance volume fueled recent market gains by nonbank mortgage originators. But lower volume amid the shift to purchase lending has nonbanks trimming headcounts and may position banks to recapture market share.

Bernard Polselli has sold more than a few houses during his life, and when it came time to list his place in Palm Beach Gardens, Fla., he decided not to use a traditional agent.