twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Flagstar Originations Down By Nearly Half

$4.9 billion Q1 production

April 27, 2011

By staff

A 47 percent drop in quarterly home-loan production was reported by Flagstar Bancorp Inc., and the current quarter is likely seeing further declines. But the bank-holding company grew its mortgage servicing portfolio, unloaded $80 million in non-performing mortgages and substantially cut its losses.

Residential originations at the Troy, Mich.-based company were $4.9 billion, according to first-quarter earnings data. Volume sank from $9.2 billion closed in the prior period but was better than $4.3 billion a year earlier.

Business is likely to continue to decline, with mortgage rate lock commitments falling to $5.5 billion from the fourth quarter's $8.9 billion.

The third-party mortgage servicing portfolio finished last month at $59.6 billion, up from $56.0 billion at the end of last year. At the same point in 2010, the portfolio was $48.3 billion.

During the quarter, Flagstar said it sold $80 million in non-performing residential first mortgages.

The bank's March 31 investment portfolio included $3.8 billion in residential first mortgages, $0.2 billion in residential second liens and $0.3 billion in warehouse loans. Another $1.2 billion was owned in commercial real estate loans.

First-quarter income before taxes was a $27 million loss -- an improvement from the $186 million loss in the prior three-month period and the $77 million loss in the first three months of last year.

Flagstar employed 306 loan officers and account executives as of March 31, more than the 278 loan sales staff as of Dec. 31. The number was 314 on at the end of the first-quarter 2010.

Total staff size across the parent company was 3,336, up from 3,279 at the end of December and 3,241 a year earlier.

Branch count has remained constant at 162.

Flagstar profile

next story

back to current headlines

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.

Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.

Bank news

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders