Items Tagged with 'Wholesale mortgages'


  • Ocwen shutting down largest origination channel; exiting wholesale forward lending

    Nonbank also settles with 2 more states
    Ocwen Financial quietly announced earlier this year that it planned to exit correspondent lending to focus on its “higher margin” channels – retail and wholesale. As it turns out, the company’s focus on wholesale lending lasted all of two months. Ocwen revealed Thursday that it plans to exit its wholesale forward lending business, shutting down its largest origination channel.
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  • Consumer direct lender Jet Direct Mortgage expanding into wholesale

    Launches wholesale lending operation after “successful” testing period
    Jet Direct Mortgage, a consumer direct lender based in New York, announced this week that it is expanding into wholesale lending with the launch of Jet Direct Funding. In a release, the company said that it recently completed a “successful” testing period for its wholesale channel and is now accepting mortgage broker applications.
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  • Wholesale originator Western Bancorp acquired by Eli Global, plans expansion

    Western Bancorp run by LoanCity founder Rick Soukoulis
    Western Bancorp, a Silicon Valley-based wholesale mortgage originator, said this week that it plans to grow its business after being acquired by Eli Global, a private equity firm based in North Carolina. With the financial backing of Eli Global, Western Bancorp said that it also intends to “quickly expand” its operations beyond Silicon Valley and enter into new wholesale channels, including non-delegated and mini-correspondent.
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  • Open Mortgage expands into wholesale lending

    Launches wholesale program for purchase and reverse mortgages
    Open Mortgage, an Austin, Texas-based mortgage lender, announced Wednesday that it is expanding its mortgage offerings and adding a wholesale lending channel for purchase and reverse mortgages. Here are the details.
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  • Ditech plots new path, launches wholesale lending channel

    Follows increase in correspondent lending operation
    When Ditech Financial relaunched in 2014, it laid out a three-pronged plan to establish itself back into the mortgage market, stating that it planned to launch direct consumer lending, retail lending and correspondent lending operations. The company has since merged with Green Tree Servicing and shuttered its retail division. Now, it's plotting a new way forward and launching a wholesale lending channel.
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