“Smaller players such as real-estate tech startup Reali and Sprout Mortgage have shuttered, while First Guaranty Mortgage Corp filed for Chapter 11 bankruptcy," wrote a Fitch team run by Shampa Bhattacharya, director for non-bank financial institutions. “LoanDepot exited the wholesale channel, with plans to sell its $1 billion pipeline and to refocus on consumer/retail channels.”
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The Rise of Green Mortgages: A Sustainable Future in Lending Explore the rise of green mortgages in the lending industry, highlighting consumer demand for sustainable financial products and the dual benefits they offer in environmental savings and cost reductions.
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Cooling Housing Market Hits Nonbank Lenders Even Harder
While large banks have been laying off staff in response to a weaker mortgage originations outlook, a Fitch Ratings report says that nonbank lenders have been facing even more downbeat options. So reports MarketWatch.
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