Citi Originations Rebound
First-quarter home lending gained ground at Citigroup Inc., and the forward momentum is likely continuing into the next earnings period. The servicing portfolio, however, was scaled back.
PNC Mortgage Lending and Servicing Rise
Mortgage business blossomed for The PNC Financial Services Group Inc. Loan production increased, the servicing portfolio grew and delinquency declined. While mortgage earnings swung to a profit, residential assets retreated.
BofA Mortgage Originations Increase
Despite a drop in home-equity loan production, new mortgage lending surged at Bank of America Corp. -- gaining for the fourth consecutive period. As was the case in the prior quarter -- servicing, assets and staffing decreased.
Mortgage Management Moves Involve GSE, TX Execs
Among recent management moves at home finance firms is a current government-sponsored enterprises executive, a former GSE executive and a pair of Texas mortgage executives.
Mortgage Delinquency Down at U.S. Bank
Although there was little quarter-over-quarter change in mortgage originations and servicing at U.S. Bancorp, the rate of late payments on residential assets improved.
Chase Production Rises, Servicing Pulls Back
Quarterly home lending activity moved higher at JPMorgan Chase & Co. The size of the servicing portfolio, however, shrank.
Wells Fargo Mortgage Originations Up, Headed Higher
Quarterly refinance activity accelerated at Wells Fargo & Co., driving up overall lending activity. Indications are that elevated originations continued in the second quarter.
Top Citi Mortgage Executive Changing Roles
The top home lending executive at Citigroup Inc. is being moved to a new job, leaving a vacancy at the global financial services firm.
Nearly $600 Million Q4 Loss at Ocwen
Preliminary financial data indicate that Ocwen Financial Corp. suffered a nearly $600 million loss during the final three months of 2014.
Mortgage Service Providers Spotlight New Leaders
Service providers to the mortgage industry have been busy aligning their executive ranks as they jostle for market share. Mortgage insurance firms were prominent in recent activity.