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
Coral Gables, Florida-based community bank sells its Houston branches to MidFirst Bank, but growing mortgage subsidiary Amerant Mortgage has a presence in most states
In a newly created role at Rocket Pro TPO, the former Sagent CEO is tasked with winning more business from mortgage brokers by leveraging Rocket's data, technology and AI capabilities
Counterparty risk and oversight platform provider Loanscape says customizable questionnaires and document requests allow lenders to automate up to 80% of the onboarding workflow
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 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
FCM lures talent from PrimeLending and invests in technology and diversity to fuel growth as mortgage rates force many lenders to downsize
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
Powered by Accept.inc, Homepoint Cash Compete program is available at launch in six states: California, Colorado, Minnesota, Oregon, Texas and Washington
The layoffs come as Pennymac ups its investment in technology and marketing to help it do more business directly with consumers and mortgage brokers
Amerant Bank launched its mortgage joint venture with industry veterans who share a vision of a 'highly efficient, and profitable nationwide mortgage banking business.'