Mortgage brokers

Those thinking about entering this space should consider whether they can build a sustainable operation in scale, niche or relationship lending, a report by Stratmor Group argues.

The President of the National Association of Mortgage Brokers, Ernest Jones Jr., explains how consolidation in wholesale has impacted those he represents.

But the deal propels the four-year old buyer of its wholesale origination operation, The Loan Store, into the national spotlight.

The company wound down its wholesale production channel and is surrendering its Fannie Mae and Freddie Mac seller/servicer status.

The increases set to go into effect in February help some offset breaks for first-time buyers but also limit options for existing borrowers.

The wholesale channel tool will speed up mortgage processing time by as much as 40%, the lender claims.

The San Francisco-based company recently raised $14 million in Series A funding and closed more than $400 million in sales in the first quarter.

The change reflects a growing focus on an emerging banker segment that sells loans to the company on a non-delegated basis and includes a greater focus on servicing retention.

The changes include a relationship tracking engine that details interactions between real estate agents and mortgage brokers.