Originations

Announcements from Paramount Residential Mortgage Group and LodeStar Software Solutions are early indications that the company’s aggressive investment in diversified business lines could pay off.

Borrowers who make at least a 10.01% down payment will not be required to obtain this form of credit enhancement, as these loans are not being sold to Fannie or Freddie.

Refinance numbers declined for the seventh time in eight weeks, leading to an overall weekly decrease.

The transaction takes depository-focused nCino into the independent mortgage banking side of the lending business.

Despite elevated prices and supply-chain bottlenecks, October application activity was up for the second time in three months and pushed the average loan size to a record high.

A pilot conducted with a handful of independent financial advisors has transitioned to a full roll-out, with the lender offering a discount of up to $5,000 to potential borrowers through the broker-dealer.

The company was able to generate a relatively higher margin than the previous quarter, in contrast to broader industry trends, bringing its bottom line back into the black.

Even though one aspect of these lending standards is becoming more flexible, some say they still don’t always meet the needs of borrowers like delivery workers employed on a contract basis.

The company’s servicing operations also reported a quarterly profit, with its portfolio increasing by 20% annually.

The weekly gain was the largest since July, but overall activity still remains close to early 2020 lows.