Refi Recession Drives Up Mortgage Fraud Risk
The quarterly level of fraud risk on residential loan applications has grown over the past year thanks to a decline in refinances and an increase in wholesale lending share.
Credit Unions Lose Mortgage Market Share
Non-bank originators took away market share from banks on a quarter-over-quarter basis, but the year-over-year trend favors banks. Credit unions lost market share.
Quicken, UWM Parent Claim Bad Reporting by Other
A dispute that started out with disparaging flyers handed out by employees of United Wholesale Mortgage's parent about Quicken Loans Inc. has escalated into accusations of false reporting by both firms.
Independent Wholesale Lenders Suffer Q2 Losses
Independent home lenders turned quarterly losses into profits by cutting expenses, though stiffer competition had income down by half from a year earlier. Wholesale lenders took a beating.
Mortgage Originations, Servicing Up at HomeBridge
As quarterly mortgage production moved higher at HomeBridge Financial Services Inc., so did the company's servicing portfolio. Headcount, however, was diminished.
Mortgage Originations Up at Finance of America
New quarterly mortgage business was better at Finance of America Holdings LLC. But the size of the company's servicing portfolio and staff was down.
CashCall Charges Leave Impac With Huge Loss
A re-evaluation of of CashCall Inc.'s value has left Impac Mortgage Holdings Inc. with a huge loss as the company takes the consumer-direct channel in a new direction.
Earnings, Servicing Increase at PennyMac
Earnings increased and servicing expanded at PennyMac Financial Services Inc. But originations were down from last year, and delinquency deteriorated.
Flagstar's Home Lending Jumps, Servicing Grows
Home-lending volume jumped at Flagstar Bancorp Inc., and it's likely a further ascension is ahead. Also increasing were headcount, servicing and commercial mortgages. But mortgage revenues were off from a year earlier.
Banks Take Mortgage Market Share from Non-Banks
Quarterly home-lending actually moved higher on a year-over-year basis. Over that same period, non-banks have given up market share to banks.