Industry News
As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.
San Diego-based lender reports net loss for 2023 despite aggressive growth strategy.
UWM's move comes amid rising credit report charges, providing relief to LOs.
Net losses for the fourth quarter totaled $59.8 million – a 43% jump from the third quarter “primarily due to revenues decreasing more than the decrease in expenses.”
In less than 10 years today’s guest went from high end retail to high tech mortgages.
Listen to the Mortgage Banker Magazine March 2024 cover story.
HUD Secretary Marcia Fudge to depart the Biden administration by the end of the month.