Freddie Refinances Soar
The monthly number of government-sponsored enterprise-backed mortgages that were refinanced increased thanks to a spike at the Federal Home Loan Mortgage Corp.
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 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.
Retail Drives Origination Growth at Guild Mortgage
A healthy improvement in retail mortgage production pushed overall business higher at Guild Mortgage Co. Also growing were servicing and staffing.