Wholesale lenders

It's no secret that subprime lending played a heavy role in the demise of the mortgage broker. But to truly understand how brokers rose to prominence, it is helpful to look back to the channel's beginnings. Here's a look at three data points that sum up the rise and fall of the mortgage broker.

Online lender LoanDepot has raised $150 million in term debt financing as part of its capital strategy.

TIAA in New York has agreed to buy EverBank in Jacksonville, Fla.

TIAA is in talks to buy EverBank Financial Corp., the largest Florida-based lender by deposits, to expand in internet banking.

Walter Investment Management Corp. subsidiary Ditech Financial plans to lay off more than 100 employees in North Carolina and Texas following declines in defaults across the country.

United Wholesale Mortgage has begun offering a conventional 1% down payment program to mortgage brokers.

LoanScoreCard has rolled out a new nonagency pricing and decisioning technology for the wholesale and correspondent channels.

Walter Investment Management Corp. subsidiary Ditech Financial has relaunched a wholesale lending channel.

Carrington Mortgage Services has added conventional loans to the portfolio of products offered by its wholesale lending division.

Brokers remain perplexed over how to strike a balance between helping borrowers shop for the best deal and maintaining compliance with the TILA-RESPA integrated disclosures. Specifically, how do brokers and wholesalers meet TRID's delivery deadline and accuracy requirements when a loan is resubmitted to a new lender?

ICBA Mortgage has expanded its relationship with DH Corp. to offer Independent Community Bankers of America members access to the MortgageBot loan origination system.

TRID wasn't as hard on the wholesale channel as was once feared, but some parties involved in the process still either do not fully understand the rule or haven't perfected their operations to handle it.

Flagstar Bancorp is interested in buying a small-to-midsized independent nonbank mortgage banker as part of a strategy to boost its retail origination volume.

American Advisors Group has released its jumbo reverse mortgage loan product to its wholesale network in California.

Stonegate Mortgage Corp. expanded its loss year-over-year following a decline in mortgage servicing rights assets.

Flagstar Bancorp reported an increase in net income during the first quarter, mainly on higher interest income and a larger release of loan loss reserves.

Stonegate Mortgage Corp. in Indianapolis has promoted James Smith, its president and chief operating officer, to be its permanent CEO.

An Altisource Residential Corp. affiliate is taking management's side in the real estate investment trust’s fight with activist investors.

QRM clarified the rules of the road for securitizations. Now, participants in the MBS world seeking better margins are looking beyond the safe harbor — to the subprime space.

Flagstar Bancorp in Troy, Mich., has launched a national homebuilder lending platform.