Wholesale lenders

A joint venture between loanDepot and OfferPad will broker loans for consumers who need financing to bridge gaps between the sale of one property and the purchase of another.

Walter Investment Management Corp. was supposed to prosper by snapping up mortgage cast-offs from big banks at fire-sale prices. Instead, Walter is belatedly joining the list of companies burned by the U.S. housing crisis.

From recruitment strategies to leveraging technology without losing the personal touch, here's a look at four challenges and opportunities for the resurgent mortgage broker channel.

Quicken Loans Mortgage Services and Calyx Software developed a version of the Point loan origination system that's preconfigured with tools for small mortgage firms to work with the Detroit lender's TPO division.

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.