Move streamlines operations and allows lender to provide best-in-class customer service
Continuing the momentum of its growing servicing portfolio, loanDepot, the nation’s second largest nonbank retail lender, is bringing the servicing of FHA, VA and USDA funded Ginnie Mae loans in-house.
Latest Fintech Insights: FTFT Subsidiary Launches Cryptocurrency Market Data Platform FTFTX
The move leverages ongoing investment in loanDepot’s servicing platform, allowing the company to scale for operational efficiency and enhanced customer service. Earlier this year, loanDepot began retaining servicing for newly funded Freddie Mac and Fannie Mae loans, while laying the groundwork for Ginnie Mae Mortgage-Backed Securities. The approval from Ginnie Mae to service its loans in-house carries great significance, as iGinnie Mae remains the market’s primary guarantor of securities containing FHA, VA, and USDA loans.
Browse The Complete News About Fintech : Central Pacific Financial Corp. Announces Planned Executive Changes Related to Its Upcoming Banking-As-A-Service Launch
“Servicing our Ginnie Mae loans in-house is important for loanDepot, because it enables us to provide the best-in-class care and service that our customers have come to expect – from initial consultation through servicing for the life of their loans,” said loanDepot Executive Vice President of Servicing and Capital Market Operations, Dan Binowitz. “We’re relying less on third party sub-servicing partners, which streamlines the process and allows us to work directly with our customers so we can offer the outstanding service that they expect and deserve.”
Read More About Fintech News : Maverick FX Transforms To Maverick Currencies
[To share your insights with us, please write to sghosh@martechseries.com]
