Wholesale lenders

A new wholesale loan channel at CoreVest will work with mortgage brokers who are starting to source loans to house flippers for the first time.

The shift to a purchase market and an increase in wholesale mortgage originations contributed to a nearly 17% year-over-year rise in fraud risk during the second quarter, according to CoreLogic.

Walter Investment Management Corp. is in danger of having its stock delisted from the New York Stock Exchange as its average market capitalization remains below required minimums.

Western Bancorp, a wholesale mortgage originator, was acquired by Eli Global, a privately held investment company. Terms of the deal were not disclosed.

There is substantial doubt about Walter Investment Management Corp.'s ability to continue as a going concern if a restructuring plan is not approved and it needed to file a prepackaged bankruptcy plan.

Walter Investment Management Corp. will close its Ditech subsidiary's Irving, Texas, office by the end of 2017, according to an internal memo. It's the first step in an effort to ultimately reduce Walter's physical footprint from 13 offices to as few as four.

United Wholesale Mortgage will vacate its offices in Troy, Mich. for a bigger headquarters building in Pontiac and relocate all 2,100 employees.

Home Point Financial Corp. sold its reverse mortgage lending business to Huron Valley Financial. Terms of the deal were not disclosed.

David Schneider has joined Stearns Lending as its chief executive officer, replacing Brian Hale, who will be leaving the company at the end of the month.

Nexera Holding, which has operated as an online lender under the name Newfi, is applying that branding to the company as a whole.