Wholesale lenders

An $8 billion mortgage servicing rights package consisting of newly originated conforming loans is up for bid, according to broker Incenter Mortgage Advisors.

Lower interest rates and improved gain-on-sale margins helped Impac Mortgage Holdings record its first profitable three-month period since the first quarter of 2018.

Freedom Mortgage's planned purchase of J.G. Wentworth Home Lending would add 570 employees and 35 offices across 46 licensed states and increase the acquirer's servicing portfolio by $6 billion.

With retaining and maintaining customers being a perpetual challenge for independent mortgage brokers, Home Point Financial launched a technology platform to bolster recapture rates.

Liberty Home Equity, a subsidiary of Ocwen Financial, is offering a new private-market alternative to Federal Housing Administration-insured reverse mortgages.

Stearns Holdings and certain subsidiaries have filed for Chapter 11 bankruptcy as part of a restructuring agreement that could reduce debt, increase Blackstone's stake in the company and preserve jobs.

FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's restructuring of its mortgage business.

After hiring half the laid-off staff from Live Well Financial, Open Mortgage plans to engineer a careful transition to operating as a larger-scale business.

Real value comes from the wholesaler using a hands-on approach to ensure that a mortgage broker's customers are treated to the best experience for the life of the loan.

Roughly 50 of the more than 100 staff members Live Well Financial let go after it stopped funding loans will join Open Mortgage, a multichannel lender in expansion mode.

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.

Plaza Home Mortgage has improved its pricing for certain jumbo loans that Fannie Mae's automated underwriting system approves, but categorizes as ineligible due to loan size.

Freedom Mortgage's acquisition of RoundPoint Mortgage Servicing gives it a major subservicer and will increase the Mount Laurel N.J.-based company's mortgage servicing rights portfolio by nearly 44%.

Lower rates hurt the value of Impac Mortgage Holdings' servicing rights and overall earnings in the first quarter, but they could help improve the company's second-quarter results.

Movement Mortgage purchased the two branches that comprise Huntsville, Ala.-based Platinum Mortgage's retail business just weeks after the latter company sold its wholesale division.

Having poor credit doesn't necessarily keep someone looking to become a mortgage broker from obtaining a surety bond, but it can complicate matters.

360 Mortgage is bringing back the no-income, no-asset loan, but says its $1 billion pilot's guidelines differ from those of the NINA loans that contributed to the financial crisis.

Plaza Home Mortgage has expanded the guidelines of its wholesale and correspondent non-qualified mortgage program to allow using bank statements for documenting income.

The company plans to sell its third-party origination channel to Renasant. It has also lined up a deal to sell its correspondent channel.

Plaza Home Mortgage's wholesale division has rolled out a one-time close, construction-to-permanent loan that meets Fannie Mae underwriting guidelines.