With listings scarce and refinancings sluggish, the strategy of partnering with homebuilders to form joint ventures like Onx X+ Mortgage is to grow loanDepot's purchase loan business
Partner in Ridgeland Mortgage, Smith Douglas Homes, went public in January and targets price-conscious entry-level and empty-nest homebuyers in the South and Southeast
Dan Hanson, the former head of loanDepot's retail division, will develop 'new revenue-generating opportunities' as the lender's new executive director of enterprise partnerships and acquisitions
Buyers can put as little as 5% down when taking out a new construction loan, with 1 closing and an optional float-down to secure a lower interest rate, according to United Wholesale Mortgage
The troubled lender has shed 5,200 workers through layoffs and attrition and is instituting other cost-cutting measures aimed at trimming $400M in annual expenses by the end of the year
NHC Mortgage will offer home loans in Florida, Iowa and North Carolina, with plans to expand to 9 other states in 2023