Originating unsecured consumer loans can be a risky venture, but LoanDepot says it wants to drive growth. Of course, it doesn't have any public shareholders to answer to.
The level of warehouse commitments rose 9.6 percent on a sequential basis in the second quarter as originations increased in the primary market, according to figures compiled by Inside MortgageFinance. Overall, commitments edged up to an estimated $30.0 billion across the industry. But compared to the same period a year ago, commitments fell a bloodcurdling 26.8 percent, reflecting the downdraft in the overall origination market over the past 12 months. According to interviews conducted by Inside Mortgage Finance over the past few weeks, usage rates improved...[Includes one data chart]
JPMorgan Chase, whose chairman and CEO Jamie Dimon has contemplated leaving the FHA program, originated $1.14 billion during the first half, a 55 percent decline from a year ago.
The FHFA IG job candidate must be able to withstand "moderate to arduous physical exertion involving walking and standing, use of firearms, and exposure to inclement weather."
The sale of Shelter is one of the largest mortgage M&A deals of the past few months and could mark the beginning of an active second half of industry consolidation.
“We’re looking for production and we have the appetite,” said Jeff Lemieux, who heads the third-party lending channel of Bayview. "We’d like to hire them as soon as possible.”
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