The faster processing times by so-called fintech lenders don’t result in riskier loans than production from traditional originators, according to an analysis published by the Federal Reserve Bank of New York.
With loan production on a downward trajectory this year, rumors abound regarding industry layoffs, but at least one top-ranked lender is still actively hiring: United Wholesale Mortgage, Troy, MI.
A significant number of lenders report that they don’t have a comprehensive vendor management system in place, according to a survey by Vendorly, a firm that provides vendor-oversight services.
A spike in non-agency mortgage-backed security issuance has helped make 2018 the strongest year for securitizations in this niche market since the financial crisis, but the sector still has a long way to go, according to Grant Bailey, a top analyst at Fitch Ratings.
In July 2017, the vendor named Rob Clements chairman and CEO and John Surface president and chief operating officer. Both came over from EverBank Financial…
But the most telling sign of how the banking industry has lost its grip on home lending rests in the number of depositories that rank among the top 20…
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