When expectations exceed the appraised value

National Mortgage Professional

Mar 27, 2007

Wharton professor and Genworth launch payment indexMortgagePress.comMortgage payment index Dr. Susan M. Wachter, professor of real estate and finance at the University of Pennsylvania's Wharton School, in association with Genworth Financial Inc., has begun publishing the "U.S. Mortgage Index," a report designed to examine key trends in residential real estate financing. Released quarterly, the index will evaluate which mortgage products offer borrowers the best value, comparing payments for various mortgage options. Genworth Financial Inc. is an insurance holding company based in Richmond, Va. For more information, call (888) 436-9678 or visit www.genworth.com..

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Mar 27, 2007

Wholesale

loanDepot Dumping Brokers, Exits Wholesale

As company reports second straight quarterly loss, it announces plans to exit its wholesale business by Oct. 31, 2022.

loanDepot, the nation’s second-largest retail mortgage lender, has so far cut nearly 4,000 jobs since the end of last year, but today said it plans to cut something else: its wholesale lending business. The company made the announcement as it released its earnings for the s...

Industry News

UWM's Q2 Profit Up YOY, Despite Steep Drop In Originations

Q2 net income was up 55% from last year, while originations were down nearly 50% YOY

Facing higher mortgage rates and a cooling housing market, UWM Holdings Corp. (UWM) saw its mortgage originations cut nearly in half in the second quarter, but still managed to increase profit year over year. The publicly traded parent of United Wholesale Mortgage today rep...