-
Wells Fargo has named Michael DeVito head of mortgage production, making him responsible for its retail and correspondent lending divisions.
September 3 -
Texas Capital Bancshares in Dallas reported a higher second-quarter profit, citing increased lending and a boost in the number of loans held for investment.
July 22 -
Bankers were pleased with the dramatic leap in home lending last quarter, but they cautioned that volume will slow in the second half as rate increases curb refinancings, nonbanks provide stiffer competition, servicing costs remain high and underwriting standards change.
July 22
Texas Capital Bancshares in Dallas plans to hire 100 people for its new mortgage correspondent aggregation business line.
The $18 billion-asset company said the new hires, who will all be mortgage professionals, will complement its existing warehouse lending program, according to a Wednesday news release. The hiring will be conducted over 18 months and the employees will be based in Texas Capital's operations center in Richardson, Texas.
"We have experienced exceptional growth in our warehouse lending program," said Gary Ort, president of Texas Capital Bank's mortgage finance division, in a Sept. 9 news release.
Texas Capital announced the formation of the mortgage correspondent aggregation business line
Texas Capital has added new technology for the loan review process that features enhanced due diligence with the aim of reducing repurchase risk for originators as well as improve turn times. The technology, which was designed specifically for the aggregation space, will be available to the program's loan sellers as the Correspondent Hub.
The Correspondent Hub product will provide access to correspondent application workflow and approval processes, and pricing and management of transactions.
