The Denver-based developer of lending platform aimed at credit unions and independent mortgage banks serves consumer direct, wholesale, correspondent and distributed retail lenders
A major player in correspondent lending, Pennymac is looking to provide more loans directly to consumers through a strategic partnership and investment in mortgage software provider Vesta
After turning a $198M Q2 profit, CEO Jay Bray says the loan servicing giant intends to 'hit the ground running' with integrated platform when it merges with Rocket Companies later this year
Lifting of the asset cap could give the bank greater leeway to originate jumbo mortgages that exceed Fannie Mae and Freddie Mac’s $806,500 conforming loan limit in most markets
A $1.95T asset cap that's limited the bank’s growth could be lifted in Q2 with CFPB and other regulators having closed 12 of 14 consent orders aimed at remedying past business practices
Deal gives the nation's biggest provider of riskier 'non-QM' mortgages additional capacity to offer more traditional loans backed by Fannie Mae and Freddie Mac, FHA, VA and USDA
Once the nation's largest home lender, Wells Fargo could be poised for a comeback in mortgage this year as it continues to make progress addressing regulators' concerns about past practices
Investors claimed they were misled about bank's progress in fixing governance and oversight issues that came to light in wake of 2016 'fake accounts' scandal
Parent company Home Point Capital to take an equity stake in The Loan Store, with Homepoint executive Phil Shoemaker to be installed as CEO when the deal closes by end of Q2
The bank says it has racked up $353M in severance expenses, primarily in mortgage, as it closes branches and pursues a 'more focused home lending business'
Executives hope to reduce risk by reducing the size and narrowing the focus of bank's mortgage business to better serve retail customers and minority communities
Hallmark is positioned to become one of the top 100 mortgage lenders with expansion into Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas
New branded client portal lets homebuyers apply for loans, review documents and e-sign disclosures and closing documents
The Irving, Texas-based lender is also reportedly in negotiations to sell its retail mortgage division, which employs about 1,000 loan originators nationwide
Executives are concerned about reputational risk of correspondent lending channel, which has historically accounted for as much as half of the bank's home loan business, Bloomberg reported