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Big Shakeup Among Ranks of Top-10 Lenders
The top residential lender was unseated in MortgageDaily.com's Third Quarter 2009 Production Ranking, while Citigroup Inc. fell two spots. Aggregate U.S. originations were off by nearly one-fourth.
An analysis by MortgageDaily.com of home loan production indicated that overall third-quarter volume was 22% lower than the second quarter.
Compared to a year ago, however, fundings were 40% higher.
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Nov. 23
Mortgage Litigation Activity Tumbles
Firms that collected up-front fees for loan modifications pushed modification-related litigation to the forefront of the Third Quarter Mortgage Litigation Report from MortgageDaily.com. But overall mortgage litigation slowed significantly.
Nov. 16
Mortgage Layoffs Outpace Hirings According to MortgageDaily.com Q3 Report
Growth in mortgage servicing jobs was not enough to keep headcount in the mortgage sector from falling, according to the MortgageDaily.com Third Quarter Mortgage Employment Analysis. But the rate of contraction has slowed considerably from the ugly pace set two years ago.
Nov. 9
Bank Failures Drive Record Mortgage-Related Closings
Driven by nearly 100 bank failures so far this year, mortgage-related failures and closings have already exceeded the total for all of last year and are within two failures of a record.
Oct. 5
10,000 Pages of News Published at MortgageDaily.com
After more than a decade of publishing stories by dozens of journalists and writers, MortgageDaily.com has exceeded 10,000 pages of mortgage news.
Oct. 5
NY Leads Nation in Mortgage Fraud
U.S. mortgage fraud cases mostly held steady during the latest quarter, according to the FraudBlogger Index -- a measure of active cases. But activity was up nearly 600% in New York to the highest of any state.
Sept. 16
Banks Face Growing Regulatory Actions
Regulatory orders against financial institutions jumped 49% during the second quarter, according to an analysis of activity by MortgageDaily.com. A surge in civil money penalties, cease-and-desist orders and prohibition orders fueled the increase.
Sept. 8
Appraisal, Modification and Foreclosure Lawsuits Soar
A surge in litigation tied to real estate appraisals, loan modifications and foreclosures contributed to a 54 percent increase in mortgage-related lawsuits, according to the Second Quarter Mortgage Litigation Report from MortgageDaily.com. Investor litigation continued to be the busiest category.
August 24
15 Largest U.S. Lenders
Residential originations at U.S. mortgage lenders jumped by nearly one-quarter in MortgageDaily.com's Second Quarter 2009 Production Ranking. Among the star performers were Wells Fargo & Co., Citigroup Inc. and Quicken Loans Inc.
August 5
Over 100 Mortgage Failures
So far this year, more than 100 mortgage-related operations have shut down, according to data tracked by the MortgageGraveyard.com -- a journal of failed, ailing and acquired lenders operated by MortgageDaily.com. The majority of the failures were U.S. banks.
July 20
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