Mortgage Jobs Plummet
The mortgage industry lost more than 2 percent of its workforce during a single month. The news, however, was better for other U.S. industries -- sending interest rates higher.
The Wholesale Mortgage Business
Wholesale providers of home loans are expanding their territories, improving their technology and polishing their brands as they seek to garner a bigger share of the mortgage broker market.
5th Consecutive Month of Mortgage Job Losses
Mortgage employment suffered its fifth straight month of declines. Job growth weakened for all U.S. industries as a whole.
Stearns' Servicing Portfolio Up, Production Sinks
Despite a steep drop in residential loan production at Stearns Lending Inc., the company continued to grow its mortgage servicing portfolio. In line with the slowdown in business, headcount was trimmed.
Bank Closes Wholesale Lending Subsidiary
A New Jersey bank has thrown in the towel on its wholesale lending business thanks to the current regulatory environment.
Wholesaler Claims Top Spot
The wholesale lending arm of United Shore Financial Services LLC claims its quarterly loan originations were higher than at any other mortgage wholesaler.
Contraction Continues With Mortgage Jobs
While the country as a whole continued to add jobs at a healthy pace, the mortgage sector continued to lose jobs. Mortgage employment was higher, however, on a year-over-year basis.
New Broker Originations Performing as Well as Retail
Recent mortgage originations generated through third-party channels are performing nearly as well as loans originated through the retail channel.
Wholesaler Recognized for Support of Mortgage Brokers
A wholesale lender has been recognized for its support of mortgage brokers. High quality customer service was cited among its strengths.
Mortgage Jobs Continue to Diminish
The latest reading on mortgage jobs was worse, though staffing was higher than a year earlier. Overall U.S. employment, on the other hand, made healthy gains last month -- sending bond yields into the stratosphere.