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Zoom Home Lending, headed by former Rocket Mortgage executives, partner with their old wholesale rival, UWM
The New York Community Bancorp plans to reinvest proceeds from sale into securities holdings
Having brokered-out reverse loans historically, the move adds a new channel to the Texas-based lender's offerings.
UWM attributes the surge in the wholesale channel's growth to increased consumer confidence in independent mortgage brokers, citing significant cost savings and expanded lender options for borrowers.
The last lock date on new loans will be Feb. 9.
Jeff Pancer brings 34 years of experience to new EVP of Capital Markets role.
