"The wholesale channel has been a relatively small part of the Company's originations business with funded volumes of less than $1 billion in the nine months through September 30, 2013," the company said in a statement.
Stonegate Mortgage Corporation is expanding its geographical footprint by acquiring the wholesale lending channel and certain distributed retail assets from Nationstar Mortgage Holdings, adding more than 200 employees.
Change is inevitable, and the wholesale lending space is definitely seeing a lot of it lately. But with bigger players like SunTrust moving out of broker lending, smaller players in the space are eager to find their footing.
Rey Maninang joins the wholesale lending division of Carrington Mortgage Services as senior vice president and national sales director for the company’s wholesale channel to oversee the sales team and increase market share.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More