Investors claimed they were misled about bank’s progress in fixing governance and oversight issues that came to light in wake of 2016 “fake accounts” scandal. …
Posts published in “correspondent lending”
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 bank says it has racked up $353 million in severance expenses as it closes branches and pursues a “more focused home lending business.” Source:…
Executives hope to reduce risk by reducing the size and narrowing the focus of bank’s mortgage business to better serve retail customers and minority communities. …
New branded client portal lets homebuyers apply for loans, review documents and e-sign disclosures and closing documents. Source: Inman News
The Irving, Texas-based lender is also reportedly in negotiations to sell its retail mortgage division, which employs about 1,000 loan originators nationwide. Source: Inman News
Executives said to be concerned about reputational risk of correspondent lending channel, which has historically accounted for as much as half of the bank’s home…
Rising interest rates and a shrinking branch network are cutting into Wells Fargo’s mortgage business, and bank executives say they’re fine with that. Source: Inman…
The layoffs come as Pennymac ups its investment in technology and marketing to help it do more business directly with consumers and mortgage brokers. Source:…
LoanDepot, known largely for lending directly to consumers, is upping its game with mortgage brokers with improvements to its mello broker portal that the company…