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Northpointe Bank to shutter its correspondent lending business

Housing Wire

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Production declined 25% to $5.49 billion in 2022 from the previous year’s volume of $7.29

Lending 398
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Fifth Third Bank unveils new warehouse lending business

Housing Wire

Martin, Firth Third’s group head of mortgage warehouse finance, along with a team of warehouse lending professionals, will be based in Dallas. We’re bringing the resources of Fifth Third’s commercial bank to the mortgage industry to help our clients achieve their long-term strategic objectives,” Martin said.

Lending 398
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Dunmor adds to its business-purpose lending team

Housing Wire

Los Angeles -based Dunmor , a technology -enabled lender that specializes in loans for residential real estate investors , has added a pair of experienced executives in the business-purpose lending space. He previously managed a portfolio of business-purpose loans and nonqualified mortgages with a value of more than $2 billion.

Lending 344
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Stronghill Capital shuts down consumer, correspondent lending

Housing Wire

Small-balance commercial lender Stronghill Capital shut down its nascent consumer and correspondent lending businesses late last week. He cited a difficult market and elevated rates as reasons for shutting down correspondent and consumer lending businesses , which were added in 2022.

Lending 481
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Planet Home Lending Expands Southeast Presence

Appraisal Buzz

Planet Home Lending Area Sales Manager Tom Reber National mortgage lender and servicer Planet Home Lending has hired Tom Reber as Area Sales Manager in Jacksonville, Florida. I am excited to join Planet Home Lending and lead our expansion in North Florida and Southern Georgia,” Reber said.

Lending 394
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HighTechLending to rebrand wholesale channel as American Senior Lending

Housing Wire

HighTechLending , a California -based top-10 reverse mortgage lender, announced on Friday that it is rebranding its wholesale lending division to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers.

Lending 438
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Increasing competition in private lending: How to stand out

Housing Wire

The rise of private lending Private lenders disrupted the monopoly of traditional banks and the private lending market has since seen a remarkable rise, reaching $1.5 With the rise of private lending comes an increase in competition, from new and traditional lenders.

Lending 413