Servicing Income Slides on MSRs Valuations, Hedging
Servicers of home loans saw income tumble last year thanks to valuations and hedging on mortgage servicing rights.
Annual Mortgage Earnings Worse as Originations Drop
As home loan production slowed last year, annual earnings at independent lenders sank. Factored into worse earnings were higher per-loan staffing costs.
Mortgage Firms Take on New Leaders
While one of the government-sponsored enterprise snagged a mortgage executive from a big-name financial institution, a young West Coast company recruited several leaders to spearhead a growth spurt. Other appointments include technology, sales and production executives.
Impac Mortgage Expects Originations To Soar
Home lending activity increased during the final three months of last year at Impac Mortgage Holdings Inc., and business is expected to nearly double in the first three months of this year.
Another Agency MSR Sale at Ocwen
Less than a week after announcing the planned sale of mortgage servicing rights on nearly $10 billion in agency loans, Ocwen Loan Servicing LLC has negotiated a sale of more than twice that size.
U.S. Could Face More GSE Bailouts
Although the government-sponsored enterprises have been operating profitably for the last few years, adverse conditions could force the government to provide more draws in the future.
Ocwen MSR Sales Surpass $64 Billion
With its latest deal to sell mortgage servicing rights, Ocwen Loan Servicing LLC has recently negotiated the sale of MSRs on more than $64 billion in agency loans.
National Lender Agrees to be Acquired
A company that has made a name for itself investing in structured settlements has made a significant investment in a national mortgage banker.
Frmr Officers, Directors of Failed Chicago Bank Sued
Millions of dollars in losses suffered by a failed Chicago bank were the result of negligence by former officers and directors, according to a federal regulator's lawsuit.
Flurry of Regional Mortgage Executives Appointed
Many of the recent executive appointments that have been made by mortgage bankers have been for regional management positions in production.