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Q1 2024 mortgage lending activity declines to near-record low

Housing Wire

Mortgage lending in the U.S. reduction in residential lending activity compared to first-quarter 2023 and a 69.3% reduction in residential lending activity compared to first-quarter 2023 and a 69.3% All major mortgage lending categories sustained losses, the report said. dropped by 6.7% in the first quarter of 2024 to 1.28

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Planet Home Lending to acquire retail division of Axia Home Loans

Housing Wire

Mortgage servicer and lender Planet Home Lending is acquiring the retail division assets of employee-owned Axia Home Loans , HousingWire has learned. Executives at Planet Home Lending were also on the call. According to Inside Mortgage Finance , Planet Home Lending ranked as the 22nd-largest mortgage lender in the U.S.

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Cornerstone Capital Bank launches community lending division

Housing Wire

Cornerstone Capital Bank , a national mortgage originator and servicer, is launching a community lending division to serve underserved communities, the company announced this week. ” The Community Lending Division will offer mortgage programs and products tailored to benefit underserved borrowers.

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Increasing competition in private lending: How to stand out

Housing Wire

The rise of private lending Private lenders disrupted the monopoly of traditional banks and the private lending market has since seen a remarkable rise, reaching $1.5 With the rise of private lending comes an increase in competition, from new and traditional lenders.

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NerdWallet enters the mortgage broker world with acquisition of Next Door Lending

Housing Wire

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. I have really enjoyed getting to know Next Door Lending’s principals, Doug [Liska] and Jonathon, through this process,” Chen said. As part of the deal that closed Oct.

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Correspondent lending: What’s in store for the future?

Housing Wire

Speakers: Nate Clear, President at First Funding Wade Betz, Head of Correspondent Lending at Mpire Financial Sarah Wheeler, Editor in Chief at HousingWire

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WaFd Bank exits home mortgage lending, says model is ‘unsustainable’

Housing Wire

Seattle-based WaFd Bank , which has offered home loans for more than 100 years, announced Thursday in an earnings report that it will exit the single-family mortgage lending business. It further clarified that it will continue its business lending activities, including commercial mortgages, and will begin offering loans backed by the U.S.

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