Mortgage Broker Group Launches
A new trade group was launched for mortgage brokers with plans to bolster wholesale market share. Over a thousand people joined the first morning. The group's inaugural convention takes place in Sin City.
Originations Fall, Servicing Grows at PennyMac
Home-lending activity slowed at PennyMac Financial Services Inc. But the company reported growth in both its servicing and staffing.
Mortgage Staffing Expands as US Jobs Report Strong
New employment data, which has been revised for the past couple years, indicate job growth turned higher last month. Monthly mortgage jobs took a unexpected turn higher.
PennyMac Opens Broker Channel; New #1 Wholesaler?
Following months of waiting, mortgage brokers can now add PennyMac Financial Services Inc. to their roster of wholesalers. With its entry, the fast-growing lender is poised to become a big player in the wholesale channel.
3rd Month in Row of Mortgage Job Losses
Amid a relatively weak U.S. jobs report, the number of non-bank mortgage jobs retreated for the third consecutive month.
Wholesale Lenders Promote Non-QM, Alt-A Programs
Several wholesale mortgage lenders are now offering Non-QM programs. Other recently announced offerings include Alt-A, jumbo and nonprime programs.
Mortgage Brokers Operated AMC to Influence Values
The owners of a Chicago-area mortgage brokerage are accused of operating an appraisal management company in order to influence appraised values on fraudulent loans.
Mortgage Staffing Drops Despite Strong Jobs Report
Although U.S. employers in all industries saw robust hiring last month, the latest statistics for the mortgage industry indicate that staffing contracted again.
Broker Channel Launch Imminent at PennyMac
Earnings and mortgage originations at PennyMac Financial Services Inc. saw quarter-over-quarter gains and year-over-year losses. A wholesale channel is about to open.
US Employment Soars as Mortgage Jobs Contract
The employment report for last month was a stark improvement from the dismal report for September as unemployment fell to its lowest level since 2000. Mortgage staffing was reduced, though.