Flagstar has record quarter driven by 'super-charged' mortgage market
The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million. ... Read full article
News Topic: Wholesale lenders
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Wells Fargo hires another JPMorgan exec as shake-up continues
Mike Weinbach will lead consumer lending as part of a reorganization that will change the responsibilities of three longtime bank executives. ... Read full article
Santander to cut 80 U.S. mortgage jobs as it exits TPO loan channel
Santander Bank's U.S. unit will be eliminating 80 mortgage-related positions as it withdraws from the third-party origination sales channel and refocuses on producing home loans through its branch network. ... Read full article
FB Financial wraps up mortgage refresh with correspondent channel sale
FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's restructuring of its mortgage business. ... Read full article
FB Financial in Tenn. to exit wholesale mortgage lending
The company plans to sell its third-party origination channel to Renasant. It has also lined up a deal to sell its correspondent channel. ... Read full article
Michigan bank expands mortgage operations with asset purchase
University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending. ... Read full article
Mortgage brokers are making a comeback, but big banks are staying clear
Tight margins, regulatory clarity and a renewed appetite to expand have made mortgage brokers and the wholesale channel attractive again, at least to the small and medium mortgage lenders. ... Read full article