After gaining market share in the fourth quarter of 2014, the wholesale-broker channel is poised for further growth, according to Mat Ishbia, president and CEO of United Wholesale Mortgage. “Wholesale brokers are making a comeback,” Ishbia said this week during a webinar sponsored by his firm, which was the second-ranked lender in the broker channel in 2014, according to Inside Mortgage Finance. “We see it growing again in the first quarter, second quarter and beyond ...
A number of homebuilding firms and mortgage lenders have recently announced joint ventures or affiliated business arrangements to offer one-stop shopping for homebuyers and homeowners. 1st Alliance Lending has announced a national mortgage lending platform that would expand its ability to offer government-backed mortgage financing to underserved borrowers with tainted credit who want to purchase a home. Based in East Hartford, CT, 1st Alliance offers ...
If a borrower went shopping for a mortgage loan in 2014, he or she would have found FHA insurance costlier than private mortgage insurance even with a 20 percent downpayment, according to a new report from WalletHub, a web-based organization that monitors a variety of financial services. FHA mortgage insurance premiums have nearly doubled since 2008, when conventional loans with private MI grew scarce and FHA became the only game in town for ...
Jumbo mortgage production last year grew its share of total originations to its highest level since well before the financial collapse that launched the era of the “agency jumbo” loan. Mortgage lenders cranked out a total of $291.1 billion of home mortgages with loan balances exceeding the old conforming loan limit of $417,000. Like everything else in mortgages, jumbo production was down from 2013, by 22.4 percent. But total mortgage originations fell...[Includes three data charts]
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