LoanDepot bets on refi wave with wholesale return
CEO Anthony Hsieh said refinances should provide notable benefit to its direct lending unit a day after LoanDepot announced a return to the wholesale channel.
Wholesale lenders
LoanDepot adds wholesale production 3 years after exit
The company dropped the broker channel just months after Frank Martell became CEO; now that Anthony Hsieh is running things again, LoanDepot brought it back.
UWM accuses Atlantic Trust of flouting “All In” ultimatum
Over 70 loans were allegedly sent to competitors by the independent mortgage banker, a suit filed by UWM alleges.
Citizens Bank to end wholesale originations
Relationships with brokers will be terminated on Dec. 6, but company officials stressed there would be no impact to its loan servicing or other mortgage channels.
Homepoint partners with Accept.Inc to launch cash offer product
The offering touts closings in as few as 10 days and allows homebuyers to compete with deep-pocketed investors and iBuyers.
Interfirst launches product targeting private non-owner-occupied loans
“One” is the first in a series of non-agency mortgages the wholesaler plans to introduce this year.
Non-QM REIT Angel Oak Mortgage files to go public
The company provides a secondary market outlet for its retail and wholesale lending corporate sibling as well as for small balance commercial loans.
Wholesale lenders relaunch prime jumbo — and not just non-QM
While the product was hard to find after the start of the pandemic, the Consumer Financial Protection Bureau’s recent changes to Appendix Q are giving a pair of large wholesalers the chance to offer it as a qualified mortgage.
New Residential predicts non-QM growth, MSR purchases in earnings call
The company aims to use the additional capacity to get its non-qualified mortgage business back to producing $125 million per month, and anticipates more purchases of mortgage servicing rights, representatives said in its Q1 earnings call.
Mortgage applications require more time due to Fannie, Freddie change
The expansion of borrower data collected in the new URLA upends an industry standard and lenders are experiencing some growing pains.
5 questions about wholesale lending for Plaza’s Kevin Parra
In a recent interview, Plaza Home Mortgage CEO Kevin Parra discussed why he likes certain underutilized loan products, thinks online lending will be limited, and is bullish on third-party originations.
Freddie Mac gives lenders access to more merged credit-report vendors
Freddie Mac is increasing the number of companies offering merged reports from the credit bureaus through integrations with its Loan Product Advisor automated underwriting system.
Angel Oak adds non-QM prequal tool for third-party originators
Angel Oak is now offering mortgage brokers and correspondent loan sellers a prequalification tool to determine borrower eligibility for non-qualified mortgages.
Impac selling $600M of non-QM loans to Starwood to securitize
Impac Mortgage Holdings will sell up to $600 million of non-qualified mortgage loans to Starwood Property Trust over the next 12 months that will be securitized.
Prepping for a securitization, Impac boosts non-QM originations
Impac Mortgage Holdings' nonqualified mortgage origination volume increased 248% year-over-year in the third quarter as the company accumulates loans for a planned securitization next year.
