"While this was an extremely difficult decision to make, we intend to build on our leadership position in the correspondent market and remain committed to purchasing loans from smaller financial institutions and independent mortgage companies," mortgage head says in letter.
The 46-state lender said under the program, mini correspondent clients originate loans, submit them to New Penn for underwriting. Once the lender gets the clear-to-close, they sell the loans back to New Penn post-funding.
Friday Funding takes a look at the mortgage lending operations at origination firms. In this edition, Bela Donine, a managing director at HomeBridge discusses correspondent growth with HousingWire. HousingWire: Who...
Mortgage lender Caliber Funding launched a correspondent lending channel, expanding its production capacity, the company announced at the Mortgage Bankers Association Secondary Market Conference & Expo...
There is one distinct moment in recent memory when everything was going to be just fine. On an early morning, back in April 2013, the smallest of miracles happened on the economic front. This singular event would lead to calls that the developed world’s ability to do business, with all of its multitudinous complexities, was on the road to a recovery, maybe this time, finally, forever..
With this year's 15 for 15, we're profiling 15 companies who are well positioned to take on the challenges of 2015. The companies occupy different roles within the housing finance space — from lenders to servicers to technology providers — but they all share a vision for an outsized impact in the year ahead. Read More
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