Bank Employment and Mortgage Originations Decline
The number of federally insured banks in business continued to diminish -- as did mortgage originations, assets and employees. Earnings and commercial mortgage holdings, however, grew.
Major Mortgage Player Emerging from Merger
The acquisition of an East Coast player by a West Coast mortgage banker will create a company that will rank as one of the country's 15 largest home lenders.
Mortgage Mergers Wagon Rolling
As mortgage firms shift from organic growth to expansion through strategic acquisitions, some big deals have recently emerged.
Ocwen Affiliate Abandoning Force-Placed Insurance
In the current regulatory environment, Ocwen Financial Corp.'s service provider affiliate has decided to get out of the business of lender-placed insurance.
GSEs Add, Lose Executives
Two recent mortgage executive appointments were at the government-sponsored enterprises, while one former GSE executive has become general counsel at a loan servicer.
Hilltop Mortgage Biz Weak, PrimeLending Subpoenaed
The parent of PrimeLending disclosed a subpoena related to government lending at the unit. Home loan originations edged up, but mortgage staffing was slashed by more than a fifth.
Genworth New Business Rises, Earnings Deteriorate
New business improved at Genworth Mortgage Insurance Corp., as did delinquency. But the same couldn't be said for earnings.
Walter Originations, Earnings & Delinquency Better
Originations were up and delinquency was down at Walter Investment Management Corp. The mortgage servicing portfolio, however, was diminished.
1 Correspondent Client Sends Impac Originations Soaring
A lone correspondent client was single handedly responsible for a quarter-over-quarter doubling of new business at Impac Mortgage Holdings Inc. The servicing portfolio was reduced.
California Bank Fails
A small bank in the Palm Springs, Calif., area was seized by a federal banking regulator and shut down. A significant share of the bank's net worth was tied up in home loans.