Northpointe Bank Joins The Exodus Of Lenders Leaving Wholesale Lending And Correspondent Lending Northpointe Bank announced that it is exiting correspondent lending. The bank announced today that the last day to lock or relock a loan is on February 17, 2023, by 5:00 ET. Northpointe also stated that the absolute last day to fund a […]
Homepoint Has Finally Admitted That It Shed Over 3,000 Employees. Homepoint has finally admitted that it has shrunk its workforce. The company says it’s workforce of 4,000 workers in summer of 2021 down to 1,000. The wholesale lender laid off 913 employees according to WARN notices filed in Arizona, Florida, Michigan and Texas. Homepoint has […]
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 […]
UWM Sues America’s MoneyLine For $2.8 Million For Sending Loans To Rocket Mortgage And Fairway UWM filed a lawsuit against America’s MoneyLine (AML) for $2.8 million. United Wholesale Mortgage alleges the California-based brokerage repeatedly violated their “All-In” Initiative Agreement they signed in March 2021. UWM gave brokers an ultimatum on March 15, 2021. Mat Ishbia […]
United Wholesale Mortgage Bars Mortgage Brokers From Doing Business With Them If They Do Business With Rocket Mortgage United Wholesale Mortgage is the top wholesale lender in the nation. Now UWM CEO Mat Ishbia is flexing his muscle. He announced on a Facebook live earlier this month that UWM will no longer partner with brokers […]
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