One day after announcing plans to reenter the wholesale lending business, LoanDepot said the move reflects its expectation that refinance activity will drive origination growth across multiple channels. Processing Content “Getting back into wholesale, which is a business that we were in previously, is going to allow us to achieve greater scale,” said CEO Anthony […]
LoanDepot bets on refi wave with wholesale return Read More »
Newrez, Pennymac and Rate are rolling out new products that signal a flurry of activity across the mortgage market. Processing Content The timing might be coincidental for most of these announcements, but loanDepot’s announcement it was restarting wholesale production has changed the competitive landscape for the wholesale sector in particular. Newrez has title insurance alternative
Newrez, Pennymac, Rate roll out fresh offerings Read More »
Less than two years after parent company, Onity Group, undertook its own rebranding initiative, its lending unit PHH Mortgage is taking the same name. Processing Content The West Palm Beach, Florida-based company announced plans to rename the home lender and servicer with the intent of providing continuity and consistency across businesses. Onity Mortgage will adopt
Onity rebrands PHH Mortgage to align with parent company Read More »
Sales of previously owned US homes unexpectedly rose in February and the prior month was revised up, helped by a decline in mortgage rates and modest growth in asking prices. Processing Content Contract closings increased 1.7% to a 4.09 million annualized rate, according to National Association of Realtors data released Tuesday. The pace exceeded nearly
Existing-home sales increase as affordability improves Read More »
Mortgage rates dropping to a three-year low last month drove up lock activity, specifically among purchase borrowers. Processing Content Total rate-lock volume increased 9% month over month and nearly 40% on an annual basis, according to Optimal Blue’s latest Market Advantage report. Purchase lock activity rose more than 14% from January and 5% compared with
Purchase locks jump as rates dip in February Read More »
After exiting the channel approximately three-and-a-half years ago during a tough period for both the mortgage industry and its own business, LoanDepot is returning to the wholesale origination business. Processing Content “Serving brokers through wholesale naturally expands our multi-channel origination strategy and complements our direct-to-consumer, in-market retail, joint venture, and servicing businesses,” CEO Anthony Hsieh
LoanDepot adds wholesale production 3 years after exit Read More »
Mortgage originations hit a three-and-a-half-year high in the fourth quarter of last year, as year-low mortgage rates boosted refinance activity, new industry data found. Processing Content An estimated 565,000 first-lien refinances closed in the fourth quarter, up about 50% from a year prior and the most since the second quarter of 2022. This pushed total
Originations hit 3.5-year high in Q4 boosted by refinancing Read More »
Planet Financial Group was able to achieve its annual growth rates of 58% in its originations business and 21% in its servicing portfolio organically. Processing Content The company, which did several acquisitions in recent years, achieved the 2025 growth on its own, Michael Dubeck, CEO and president of Planet Financial said in an interview. “To
Planet Financial grows 58% in originations, 21% servicing Read More »
Housing inventory ticked up on an annual basis for the 28th consecutive month in February, but growth continued to flatten, underlining a trend losing momentum. Processing Content Active listings grew 7.9% year over year in February, but just 0.2% month over month, reaching more than 914,000 homes on the market, according to Realtor.com’s monthly housing
Housing inventory recovery slows for ninth straight month Read More »
The Mortgage Industry Standards Maintenance Organization has moved a pair of initiatives related to two government-guaranteed mortgage loans programs up to candidate recommendation status. Processing Content First, the data mapping for a key form in the Veterans Affairs loan process has achieved this status, meaning the standard has been thoroughly reviewed by industry participants and
MISMO releases VA, FHA form standards for industry use Read More »