Amid the expectation of a wave of mergers and acquisitions in 2023, nonbank mortgage lenders American Portfolio Mortgage Corporation and Town Square Mortgage announced on Wednesday that the companies are merging their operations. The lenders, both privately held, will retain their […]
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In today’s high-rate environment, lenders are looking for innovative ways to optimize and automate processes for maximum cost savings and efficiency without compromising on the consumer experience. HousingWire recently spoke with Matt Regan, EVP of […]
There are reasons California-based Pennymac may want to forget 2022. The mortgage lender’s overall origination volume dropped 54% from January to September compared to the same period in 2021, according to data from Inside Mortgage […]
Many lenders are not getting a sense of déjà vu with the current mortgage industry downturn, according to mortgage advisory firm Stratmor Group. “This one feels different,” a recent Stratmor report states, citing executives in […]
The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. “While it is true that many nonbanks entered this […]
Amid surging rates, declining volumes and a reduced appetite from investors in the secondary market, there are a growing number of casualties in the mortgage space, especially in the riskier non-QM segment. First Guaranty Mortgage […]
HousingWire recently spoke with Kevin Koon-Koon, chief technology officer at Grid 151, about streamlining and simplifying how mortgage lenders interact with the rest of the ecosystem. HousingWire: What are some common challenges lenders face when […]
The Department of Justice reached a $12 million-plus settlement with Lakeland Bank over claims the lender engaged in redlining in the Newark, New Jersey metropolitan area. The complaint filed in federal court on Wednesday alleges […]
As rates continue to rise and lenders adjust to markedly tighter profit margins, the hunt is on for opportunities to improve operational costs. In light of that, HousingWire Content Solutions Managing Editor Maleesa Smith sits […]
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