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Stronghill Capital shuts down consumer, correspondent lending

Housing Wire

Small-balance commercial lender Stronghill Capital shut down its nascent consumer and correspondent lending businesses late last week. The Austin, Texas-based lender will continue offering small-balance commercial and business purpose debt service coverage ratio (DSCR) loans to its clients, CEO John Eisinger told HousingWire Monday morning.

Lending 450
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Northpointe Bank to shutter its correspondent lending business

Housing Wire

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. billion in the first nine months of 2022, accounting for 41.7% Correspondent production posted $2.45

Lending 382
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Mountain West Financial steps back from wholesale lending

Housing Wire

The Redlands, California-based company informed its broker network last week that it has “made the difficult decision to take a step back from wholesale lending,” according to a spokesperson. Founded in 1990, Mountain will continue to serve retail and consumer direct clients throughout the Western United States.

Lending 417
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Silvergate ditches mortgage warehouse lending, cuts 20% of workforce

Housing Wire

Silvergate Capital Corporation , parent company of Silvergate Bank , which provided services to Sam Bankman-Fried’s now-collapsed crypto empire, walked away from its mortgage warehouse business and cut workforce by 20% as clients pulled $8.1 billion in debt securities at a loss of $718 million during the fourth quarter of 2022.

Lending 387
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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

It was late 2022 and Mike was feeling the pressure. You feel out a prospective client during the initial conversation, get a sense of whether they know how everything works, if they’ve spoken to another lender, if they’re going to shop you, right? The lower comp rate stung. If anything, the practice has increased over the last year.

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Announcing the 2022 Marketing Leaders!

Housing Wire

Connecting with clients and consumers has never been an easy task, and today’s market has been no exception. Tasked with an endless list of functions, this year’s 2022 Marketing Leaders did it all despite market turmoil. First Vice President, Marketing, Retail Lending. Angel Oak Lending. Lauren Miller. VP, Marketing.

Marketing 383
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Some lenders won’t survive the purchase mortgage market of 2022

Housing Wire

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgage 521