Items Tagged with 'correspondent'


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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Pacific Union Financial poised to build on momentum

Expanding wholesale and correspondent channels
In the wake of the 2008 crisis, the correspondent and wholesale segments of the mortgage industry have changed dramatically. Top bank-owned correspondent lenders controlled over three-quarters of the market share in the first half of 2009. By comparison, in the first half of 2016, there were only five banks among the top 10 correspondent lenders and they have combined market share of 38%.
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Parkside Lending continues growth

Adds three to management team
In addition to recently adding Robin Gilmore as executive vice president of operational strategy and Joann Berger as underwriting manager, Parkside also announced the additions of Gail Dolton as general counsel, Laurie Spira as chief compliance officer and Jo-Ann Krueger as closing manager.
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Stonegate just grew warehouse lending by 888%

No, that’s not a typo
Stonegate Mortgage Corporation reported an incredible 888% year-over-year increase in its warehouse lending in the fourth quarter, rising from $47.8 million in 2013 to $472.4 million in 2014. But it still wasn't enough to help Stonegate turn a profit in 2014.
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LenderLive boosts correspondent lending division

Hires Andrew Lion and Wendy Lovett as regional account executives
LenderLive Network is enhancing its correspondent lending division with the additions of two new regional executives, Andrew Lion and Wendy Lovett. Lion will cover the Northern California, Oregon, Washington and Alaska territory, while Lovett will cover the states of Arizona, Colorado, Nevada and Utah.
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New Penn launches mini-correspondent division

Lending product popular among credit unions and community banks
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.
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