Mortgage brokers feasted on a growing crop of refinance business during the second quarter, pushing the wholesale channel to a 14.6% share of new first-lien mortgage originations.
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Thanks to lower rates, residential loan production is booming but some lenders are experiencing capacity issues because they didn’t staff up quickly enough. Hard to find a good loan processor? You bet.
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The fintech company boosted its mortgage originations significantly in the second quarter. The online lender also recently raised $160 million in capital and formed a partnership to handle originations for Ally Financial.
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Mortgage M&A activity is on the light side these days. The reason: Home lenders are too busy originating new loans and reaping the profits. Unless rates spike, the situation is unlikely to change.
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An appeals court ruled in favor of Ocwen, finding that statements made by company officials were mere puffery that investors should not have relied on.
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