Two of the top nonbanks had remarkable starts to the year. Second-ranked Quicken Loans posted a 13.6% increase in production from the fourth quarter and third-ranked United Wholesale Mortgage upped its volume by a stunning 63.1%.
First Republic’s IO holdings had a weighted average loan-to-value ratio of roughly 56%, based on appraised value at the time of origination. The loans have credit scores averaging 762.
In 1Q19, the top three HECM lenders were American Advisors Group, One Reverse Mortgage, and Synergy One Lending. Reverse Mortgage Solutions, which ranked fourth, is in the process of being sold…
The expanded credit sector (which includes non-QM lending) shows promise but accounted for just 2.8% of total residential MBS issued in the first quarter, according to Inside MBS & ABS.
loanDepot offers paid apprenticeships for entry-level employees and an Uber-like model that allows employees to work "anytime, anywhere, on their own schedule."
Fannie Mae this week promoted Strategy Advisor Andy Peters to vice president and head of single-family strategy. He joined the government-sponsored enterprise last fall...
The surging broker channel is attributable to rapid growth at United Wholesale Mortgage, by far the largest platform in the business. According to IMFresearch, no other table-funder comes close.
The spate of M&A activity in the sector suggests that more deals could be in the works, given the attractive nature of being a subservicer compared to owning the servicing strip outright…
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