Items Tagged with 'Wholesale lenders'


  • FirstBank exiting wholesale mortgage lending

    Selling correspondent channel to Rushmore, sells TPO channel to Renasant Bank
    In what’s become a trend, another lender announced this week that it is scaling back its mortgage business. In the last two months alone, HomeStreet Bank, Ditech, and Live Well Financial have all moved away from mortgage lending in one way or another. Now, FirstBank, one of Tennessee’s largest community banks, is selling off its wholesale mortgage lending operations.
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  • Plaza Home Mortgage expands non-QM lending for mortgage brokers

    Now offers “flexible income documentation” requirements
    Mortgage brokers and correspondent lenders now have expanded options when it comes to lending to borrowers who don’t fit into the Qualified Mortgage box. Plaza Home Mortgage announced this week that it is rolling out an expanded non-QM lending program to “allow brokers and correspondent lenders to qualify more non-traditional borrowers.”
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  • 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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    Mortgage brokers launch BRAWL initiative to combat unethical whole-tail lender practices

    Taking aim at wholesale lenders who are actually focused on retail loans
    A network of independent mortgage brokers throughout the country have banded together to launch a national movement in the mortgage industry, Brokers Rallying Against Whole-tail Lending (BRAWL), an initiative focused on stopping the unethical practices used by “whole-tail lenders.”
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