“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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Navigating the Future of Mortgage Lending in an Unpredictable Market Discover how mortgage lenders are adapting to market volatility, embracing digital transformation, and preparing for future trends in the mortgage lending industry.
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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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