Nonbank

LoanDepot will accelerate hiring initiatives in the third and fourth quarter as it plans to add 1,400 new jobs by the end of 2019. The company credits its technology efforts for the growth opportunities.

Quicken Loans claimed victory in its dispute with the Department of Housing and Urban Development over the False Claims Act, only paying the agency for losses incurred and interest.

Ginnie Mae is examining whether the shift in business to nonbank issuers has implications beyond the risks it has historically looked at, and identifying advantages that should be nurtured as well.

After a sustained downward trajectory, nondepository mortgage companies added 1,200 workers in April, a modest boost for lenders during prime season for the housing market.

Independent mortgage banks became profitable again at the start of the year after realizing losses of $200 for each loan they originated in the fourth quarter of 2018, according to the Mortgage Bankers Association.

Velocity Mortgage Capital's new loan for income-producing residential and small-balance commercial properties was designed to afford investors more payment certainty than traditional bank financing.

The shift to nonbank lenders will put the breaks on non-qualified mortgage and home equity line of credit origination growth.

The Government Accountability Office called on Ginnie Mae to undertake four reforms to its operations, citing concerns regarding the ongoing shift in size and capitalization of mortgage-backed securities issuers.

Nonbank mortgage companies have traditionally been monoline or focused businesses, but in the current market they must create multiple revenue lines and strike a healthy balance between them to survive.

Lending against single-family home construction is an area where depositories have traditionally faced little competition. That's starting to change.