Nonbank

LoanDepot's CEO Anthony Hsieh delivered a bracing message to mortgage lenders on Monday — strong new competitors are coming into this market, so they need to expand their offerings.

The number of workers employed by nonbank mortgage lenders and brokers reversed course and inched lower in July as affordability constraints and limited income gains reduced demand.

With spring homebuying in bloom, the second quarter brought profits to independent mortgage bankers after going negative for the second time ever, according to the Mortgage Bankers Association.

Intensifying margin pressure could spur another wave of cost-cutting at nonbank mortgage lenders, unless other strategies, like consolidation or a mortgage servicing book that could increase in value, offset it.

New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.

Atlantic Bay Mortgage Group and Virginia Community Bank have agreed to back out of a merger that would have been a rare instance of a nondepository lender acquiring a depository institution.

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.

Nonbank mortgage-backed securities servicers increase their exposure to agency loans as the housing market distances itself from last decade's crash, according to Fitch Ratings.

Servicers and MSR investors face increased regulation and oversight as nearly all states now require some form of licensing for firms responsible for mortgage collections.

The high cost of preparing for both CFPB and state exams has a disproportionate impact on small independent mortgage banks that don't have the compliance economies of scale of larger lenders.