loanDepot, a nonbank retail lender, is bringing the servicing of FHA, VA and USDA-funded Ginnie Mae loans in-house.
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.
“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,” says Dan Binowitz, loanDepot’s executive vice president of servicing and capital market operations. “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.”
Ginnie Mae remains the market’s primary guarantor of securities containing FHA, VA and USDA loans.
Photo by Trinity Nguyen on Unsplash
