Cenlar, the largest subservicer in the mortgage industry, has been on a middle- and senior-manager hiring spree the past 18 months as it tries to meet the demands of an OCC consent order filed two-plus years ago.
When nonbanks hurt, their warehouse lenders hurt too, though in different ways. A sharp reduction in mortgage originations — with no interest rate relief in sight — is causing a handful of bankers to quit the space.