Items Tagged with 'Correspondent lending'

ARTICLES

PHH exiting private label origination business; selling off Ginnie Mae MSRs

It was all good a month ago
It was the best of times, it was the worst of times for PHH. A little less than a month ago, PHH was riding the highest of highs, having just landed a landmark legal victory over the Consumer Financial Protection Bureau in a case that saw the structure of the CFPB declared unconstitutional. Now, less than 30 days after celebrating its big victory over the CFPB, PHH is reporting another loss, and announcing the exit from at least one more of its business lines.
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BOK Financial exits correspondent lending

Effective Dec. 31, 2016
Not too long ago, BOK Financial announced several expansions in the correspondent space. Today the company said it plans to shut down its correspondent lending channel after an evaluation of the lender's business and current market conditions. Here's what changed for the company.
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PHH exits correspondent lending as rest of industry steps in

'Due to its subpar profitability'
As the others in the industry look toward correspondent lending to grow their business, PHH Corporation announced that it decided to exit the wholesale/correspondent lending channel. This past year threw a lot at PHH, causing the company to have to reevaluate its strategy. As it heads back to the drawing board, here's the situation its trying to asses.
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LenderLive appoints new execs to correspondent lending division

Lynn Collins and Tisha Hamari joined the firm as regional account executives
As the newest members of LenderLive, regional account executives Lynn Collins and Tisha Hamari will cover southern states and will work with current and prospective clients, including community banks and credit unions participating in or considering the company’s correspondent program.
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Ditech sees strong future in correspondent lending

Recently exited distributed retail lending
After a recent announcement from the company that it is exiting the distributed retail lending channel due to changes in the market, Ditech announced it is eyeing a different area of the lending market to expand in, correspondent lending.
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Ditech releases new home equity product

Available for correspondent lenders
Ditech Financial released its new Closed End Home Equity product for the correspondent banking community. Features of the loan include loan amounts as low as $20,000, a FICO as low as 680 and debt ratio up to 43%.
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