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United Wholesale Mortgage was founded by Jeff Ishbia in 1986 while working as an attorney. He founded the company as a side business under the name Shore Mortgage. [3] It started off focusing on conventional and FHA loans and the name was later changed from Shore Mortgage to United Wholesale Mortgage. [4] By 2003, the company had 13 employees.
At a recent investor day, Apollo said it plans to more than double its $562 billion private lending business to $1.2 trillion in five years. Brian Sozzi is Yahoo Finance's Executive Editor. Follow ...
Stearns Lending, LLC was an American wholesale, retail, and correspondent lender. Founded in 1989, it grew until it became the fifth-largest privately held lender in the US in 2013. Founded in 1989, it grew until it became the fifth-largest privately held lender in the US in 2013.
PennyMac was the third largest mortgage lender, the sixth largest mortgage servicer, and largest aggregator of residential mortgage loans in the U.S. in 2019. [2] The company conducts its business through a consumer-direct model, which relies on the Internet and call center-based staff to acquire and interact with customers across the country.
The mortgage broker originates the loan; however, the funding of the loan as well as the decision on the creditworthiness of the loan is handled by the wholesale lender. [2] The name of the wholesale lender typically appears on the loan documents, while the broker acts as an agent for the lender and collects a fee. [3]
In 2014 Homebridge funded $6.36 billion in home mortgage loans, [7] and nearly $12 billion in its servicing portfolio. [8] The company increased its funded home loans 36% in 2015 to $8.7 billion. [9] Also in 2014, the company was ranked number ten on Mortgage Executive magazine's list of the "Top 100 Mortgage Companies in America". [10]
DT Holdings, Ditech's parent company, is a subsidiary of Walter Investment Management. [14] In March 2014, the company resumed originating loans using the Ditech name. [2] The brand had effectively “disappeared” from the marketplace for five years during the mortgage crisis, and the company decided to bring Ditech name back. [2]
The group was founded in 2004 by Reza Jahangiri, president and chief executive officer. [2] [4]In June 2009 the company received a capital-infusion commitment from private-equity firm JAM Equity Partners of El Segundo, California, an investment said to give AAG "the resources needed to compete on a national level with a celebrity spokesperson and [to] build a recognizable brand."