Tag Archive for: mortgage banking channel

Why Would a Mortgage Bank BROKER Loans?

There Are Three Primary Channels In Which Consumers Can Garner Mortgage Loans Commercials banks and credit unions (they do commercial loans, offer checking & savings accounts, and do mortgage loans) Mortgage banks (they only underwrite and fund mortgage loans, and do nothing else) Brokers (they only “originate” loans, and then submit them to unaffiliated lenders) […]Read More

Chaos In The Mortgage Broker Channel (UWM Sues Its Customers); Fascinating Observations

I have blogged about the three channels for mortgage banking several times. The channels include (1) banks and credit unions that offer mortgages along with checking, savings and commercial lending; (2) mortgage banks that only underwrite and fund mortgages (JVM’s channel); and (3) mortgage brokers who only originate loans but package and submit them to other “wholesale lenders” that underwrite and fund them.Read More

Why We Don’t Align With UWM/Broker Channel

MOST INNOVATIVE COMPANY IN MORTGAGE One of the most innovative companies in the mortgage space is also the largest wholesale lender. As a reminder, there are Three Primary Channels For Mortgages: (1) Banks & Credit Unions; (2) Mortgage Banks; and (3) Brokers. Banks perform many other functions (checking, savings, commercial lending) besides offering mortgages; mortgage […]Read More

Appraisal Horror Story; Appraisal Success Story! “Appraisal Manager”

APPRAISAL HORROR STORY Back when we were in the Broker Channel (when we sent loans to outside lenders for underwriting), we ordered a purchase appraisal in a high-end Bay Area community called Orinda. The lender forced us to order appraisals through a nationwide Appraisal Management Company that kept most of the appraisal fee itself and […]Read More