Page 4 - Prime Jumbo News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Sometimes it’s tough to find good news out there. For independent mortgage bank (IMB) and mortgage subsidiaries of chartered bank lenders, the MBA reports that production costs exceeded $11,000 per loan in the 3rd quarter leading to a net loss of $624 on each loan they originated. (More below.) And the cost of determining a borrower’s credit will be heading significantly higher, according to word on the street. The increases are not coming from credit resellers, such as credit reporting agencies, but rumored instead to be coming from the bureaus and Fair Isaac, customers are enco...

HousingWire recently spoke with Desmond P. Smith, chief growth officer for United Wholesale Mortgage, about the transition from retail to wholesale for brokers and what the future of the independent broker channel holds.

NLY earnings call for the period ending June 30, 2022.

There is a "one-stop" option

If you see me talking to myself, just move along. I'm self-employed, and we're having a staff meeting. Self-employed borrowers are certainly a target of non-QM lenders around the nation. Non-bank lenders continue to grapple with 2nd mortgage program availability and the HELOC edge that some portfolio lenders have, everyone is watching the housing market. And even traditional depository lenders are trying to adapt… like this headline about Wells Fargo possibly scaling back its mortgage business. (No, I don’t have a subscription.) All real estate is local, of course...