Wholesale lenders

Incenter Mortgage Advisors is facilitating the sale of more than $10 billion in mortgage servicing rights tied to Fannie Mae and Freddie Mac loans originated by mortgage brokers.

Angel Oak Commercial Lending has acquired a controlling interest in lender Cherrywood Mortgage in order to strengthen its focus on small-balance commercial lending.

Impac Mortgage Holdings generated almost $4 million in net income during the first quarter as it continued to downsize to adjust for origination declines and benefited from servicing gains.

Carrington Mortgage Services' decision to offer subprime mortgage loans was a natural progression from its decision four years ago to concentrate on borrowers with credit scores under 640.

As mortgage brokers gain more leverage in the market, concerns about borrower poaching and retention are making channel conflict with lenders more prevalent.

If GSE reform leads to the 30-year mortgage's demise, homebuyers' monthly payments could soar by $400, according to a recent Zillow estimate. But lenders aren't convinced this housing finance staple is in any danger of being replaced.

Today's mortgage broker is tech savvy, sophisticated and better equipped to thrive in a wholesale channel that's far more competitive than in the past.

Mortgage lenders are embracing the broker-wholesale channel as a low-cost way to extend their reach and maintain volume in the face of rising home prices and interest rates that are putting a damper on origination activity.

Tight margins, regulatory clarity and a renewed appetite to expand have made mortgage brokers and the wholesale channel attractive again, at least to the small and medium mortgage lenders.

Ocwen Financial Corp. fired Otto Kumbar, executive vice president of lending, as the company significantly reduces its origination business.