Tag Archives: loanDepot

Finance of America exiting wholesale, correspondent lending

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The Irving, Texas-based lender is also reportedly in negotiations to sell its retail mortgage division, which employs about 1,000 loan originators nationwide. Continue reading →

United Wholesale Mortgage is gunning for retail rivals’ customers

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United Wholesale Mortgage, the nation’s biggest wholesale mortgage lender, is slashing rates and urging retail loan officers to defect to independent mortgage brokerages. Continue reading →

LoanDepot, appraiser sued after ‘whitewashed’ home’s value surges

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Dr. Nathan Connolly and Dr. Shani Mott alleged fair housing and civil rights violations after a second home appraisal came back $278,000 higher when they removed any indication of their race. Continue reading →

LoanDepot accelerating layoffs, exiting wholesale business

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The lender plans to boost revenue by growing purchase loan business and loan servicing portfolio, with digital HELOC also in the works, according to a second-quarter earnings call. Continue reading →

Wells Fargo reportedly eyeing ‘major retreat’ from mortgage

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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 loan business. Continue reading →

Study: Homeowners often miffed if lenders outsource servicing

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J.D. Power’s annual Mortgage Servicer Satisfaction Study finds customer satisfaction is 26 percent higher when mortgages are originated and serviced by the same company. Continue reading →

LoanDepot to shed 4,800 workers in 2022 in bid to return to profitability

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Lender hopes to cut up to $400 million in annual expenses and become profitable by the end of 2022 after rising mortgage rates gut profitable refinancing business. Continue reading →

The best and worst ways to handle layoffs as real estate cuts accelerate

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The housing industry has shed thousands of jobs recently, and more cuts may be in store. But some companies are handling the situation better than others. Continue reading →

The best and worst ways to handle layoffs as real estate cuts accelerate

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The housing industry has shed thousands of jobs recently, and more cuts may be in store. But some companies are handling the situation better than others. Continue reading →

Do layoffs at Compass and Redfin signal a looming real estate purge?

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The ranks of the real estate industry have swelled over the past decade. Some experts who spoke to Inman believe a trend in the opposite direction may be picking up speed. Continue reading →