Banks Grab Mortgage Share Back from Credit Unions
Banks, which had been losing some of their mortgage market share to credit unions over the past couple of quarters, took some of it back.
Proprietary Reverse Mortgage Biz Up as FHA Falls
Although the monthly volume of government-insured reverse mortgages has recently fallen, originators of proprietary reverse mortgages pushed up activity.
Hirings Reported by The Money Source
A mortgage banking firm that is based in the Empire State has increased its ranks by more than a hundred employees so far this year as it expands its presence.
Mortgage Earnings Up As Lending Lags
Independent mortgage bankers saw quarterly lending dip but managed to boost the bottom line. Secondary marketing income rose.
IMPAC Expands Non-QM Offerings
In its quest to battle the dehumanization of mortgage underwriting, Impac Mortgage Corp. has expanded it product line of loans that don't meet Qualified Mortgage standards.
New Wholesale Programs Launched
Among several new programs recently offered by wholesale lenders are non-QM loans, reverse mortgages and jumbo mortgages. Commercial mortgage products also hit the market.
Proprietary Reverse Mortgage Production Up
Unlike government-insured reverse mortgage production, proprietary reverse mortgage originators saw a gain in volume from a month and year earlier.
PennyMac Mortgage Lending Slips, Servicing Up
Quarterly residential loan production dipped at PennyMac Financial Services Inc. But the company's mortgage servicing portfolio managed to eke out an increase.
Stonegate Mortgage Servicing Up, Lending Off
Although quarterly loan production and staffing descended at Stonegate Mortgage Corp., the lender managed to grow its mortgage servicing portfolio.
Huge Ocwen Loss as Originations, Servicing Off
Quarterly home lending slipped at Ocwen Financial Corp. but is likely way up for the current period. The company reported a huge loss, while servicing subsided.