Housing Wire
FEBRUARY 22, 2023
Wells Fargo , the largest depository mortgage lender in America, issued pink slips to employees in its home lending business on Tuesday following its decision to exit the correspondent channel. “I Wells Fargo’s correspondent lending business was already in a freefall.
Housing Wire
FEBRUARY 9, 2023
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
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Housing Wire
APRIL 29, 2024
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.
Housing Wire
MARCH 31, 2023
The Consumer Financial Protection Bureau (CFPB) has finalized the rule on small business lending, which fulfills a mandate from Congress and aims to increase transparency while mitigating discrimination. For decades, the government has assembled data pursuant to Congressional mandates on residential mortgages,” the CFPB said.
Housing Wire
MAY 13, 2024
The former reverse mortgage team from Norcom Mortgage in Avon, Connecticut — which elected not to move to CMG Financial following its acquisition of Norcom last month — has selected Texas-based Supreme Lending as its new home, with John Luddy serving as SVP of reverse lending. She absolutely checked all the boxes for us.
Housing Wire
SEPTEMBER 21, 2022
Martin, Firth Third’s group head of mortgage warehouse finance, along with a team of warehouse lending professionals, will be based in Dallas. Warehouse lending offers short-term financing to mortgage bankers that provides interim liquidity until loans are sold or securitized in the secondary market.
Housing Wire
AUGUST 29, 2023
A group of banks in Kentucky is seeking to block the implementation and enforcement of the Consumer Financial Protection Bureau (CFPB)’s small business lending rule , the latest in a series of challenges brought by parties including legislators and industry groups.
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