Skip to main content

loanDepot Will Service Ginne Mae Loans In-House

David Krechevsky
Jan 04, 2022
Loandepot solo logo.

The move leverages loanDepot's ongoing investment in its servicing platform.

loanDepot, the nation's second largest nonbank retail lender, said today it will bring the servicing of FHA-, VA-, and USDA-funded Ginnie Mae loans in-house.

The company said the move leverages ongoing investment in loanDepot's servicing platform, allowing it to scale for operational efficiency and enhanced customer service. 

Earlier this year, loanDepot began retaining servicing for newly funded Freddie Mac and Fannie Mae loans, while laying the groundwork for Ginnie Mae Mortgage-Backed Securities. The approval from Ginnie Mae to service its loans in-house is significant, loanDepot said, because Ginnie Mae remains the market's primary guarantor of securities containing FHA, VA, and USDA loans.

"Servicing our Ginnie Mae loans in-house is important for loanDepot, because it enables us to provide the best-in-class care and service that our customers have come to expect — from initial consultation through servicing for the life of their loans," said Dan Binowitz, loanDepot’s executive vice president of servicing and capital market operations. "We're relying less on third- party sub-servicing partners, which streamlines the process and allows us to work directly with our customers so we can offer the outstanding service that they expect and deserve."

To accommodate this move and continued growth, loanDepot recently upgraded its servicing portal with intuitive technology. loanDepot is also recruiting for positions across its servicing organization, focusing on customer-facing talent. 

Since its launch in 2010, loanDepot has brought a digital-first approach to the home-buying industry, making it easier, faster and less stressful to purchase or refinance a home.

 

Published
Jan 04, 2022
Equifax Confirms Credit Report Hike

Costs could go up as much as 400% in some cases, according to NCRA.

Industry News
Nov 29, 2022
‘Massive’ Increase In Credit Report Cost Coming In 2023

NCRA says a 'vast majority' of mortgage lenders will incur price increases ranging from 10% to 400%.

Industry News
Nov 28, 2022
Homepoint Offering $500 Credit To Borrowers For Appraisals

Savings intended to help ‘on-the-fence’ homebuyers feel more comfortable buying a home.

Industry News
Nov 28, 2022
Creativity Found In The Oddest Place

Flagstar’s MortgageTech Accelerator program has its roots in Major League Baseball

Industry News
Nov 21, 2022
UWM Expands Temporary Rate Buydown Offerings

In a rising rate environment, this temporary rate buydown will be an attractive option for borrowers.

Industry News
Nov 16, 2022
Down Payment Assistance Facilitator Arrive Home Launched

Social enterprise

Industry News
Nov 15, 2022