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Tag Archives: Wholesale Lending

Ally Looks to Shift Further Away from Mortgage Business

Ally Bank announced it has launched a ""process to explore strategic alternatives for its agency mortgage servicing rights (MSR) portfolio and its business lending operations."" The announcement signals another step in Ally's shift away from the housing market.

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Home Prices Down in 2011, but Market Stability Forecast for 2012

While year-over-year home price measurements notched down in 2011, prices are expected to see a slight uptick in 2012, according to Clear Capital. Should the valuation company's predictions ring true, it would be the first time since 2006 that the change in annual home prices has landed in positive territory. Data released by Clear Capital Monday shows year-over-year, national home prices dropped 2.1 percent in 2011. For 2012, the company projects a slight gain of 0.2 percent.

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Total Mortgage Services Names New Head of Wholesale Lending

Connecticut-based mortgage lender Total Mortgage Services, LLC announced Tuesday that Lisa Schreiber is the company's new head of its wholesale lending channel, TMS Funding. As EVP of wholesale lending, Schreiber is responsible for defining and implementing the company's vision, strategy, and execution to build TMS Funding into a nationwide wholesale lender.

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Fairway Independent Mortgage Reaches Nearly $4B in New Loans

Fairway Independent Mortgage Corporation, a Wisconsin-headquartered mortgage banker, reached $3.94 billion in mortgage volume last year, its highest annual volume in the company's 15-year history. The total exceeds 2009's record volume of $3.35 billion. The company says its focus in 2011 is recruitment. It currently has more than 1,030 employees in 90 locations.

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Bipartisan Agreement Reached on Bailout Legislation

Treasury Secretary Henry Paulson and Congressional leaders worked late into the nights over the weekend and have finally reached a bipartisan agreement on the specifics of the bailout legislation. According to Senate Majority Leader Harry Reid, a real breakthrough didn’t come until 11:30 p.

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