LoanDepot Is Closing It’s Wholesale Channel After Losing $232 Million In The Second Quarter California-based LoanDepot is closing its wholesale division amid plummeting origination volumes. The company is also seeing a widening of it’s financial losses in the second quarter. The decision to close the channel also reflects fierce competition in the broker space. It’s a […]
Fighting Shellpoint Mortgage Foreclosures Has Become Tougher. Do You Have A Winning Shellpoint Mortgage Foreclosure Defense Team? Call 888.737.6344 The economy is uncertain. Inflation is out of control. Interest rates are rising. Shellpoint Mortgage is stepping up foreclosures. Worst of all, foreclosures are getting tougher to fight. So, do you have the right Shellpoint Mortgage Foreclosure […]
United Wholesale Mortgage Bucks Industry Trend By Posting 55% Increase In Net Income In Second Quarter United Wholesale Mortgage Holdings on Tuesday posted a net income of $215.4 million in the second quarter. This is a 55% increase from 2021. The suburban Detroit lender also posted profits on $29.9 billion in loan origination volume for […]
Pandemic Backlog Will Create A Serious Foreclosure Spike In The Coming Months Expect a foreclosure spike in the coming months. Lenders have a backlog of distressed mortgages dating back to the height of the pandemic. Consequently, they are now about to start foreclosing. However, they are not expect to be as high as the foreclosure […]
Former Employees Express Shock On Social Media As Open Mortgage Performs Another Round Of Mass Lay Offs Another round of mass layoffs has struck employees at Open Mortgage. The Texas based lender did a previous round of layoffs in June. Open Mortgage Founder and CEO Scott Gordon confirmed that layoffs had taken place but didn’t […]
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