Secondary Gains Hurt Mortgage Production Income
Earnings at independent mortgage banking firms plummeted more than 50 basis points on a quarter-over-quarter basis. Secondary marketing gains and expenses hurt income.
Mortgage Executives Recruited
From the board room to the C suites, mortgage firms are making executive changes. In addition, two companies made management changes in their wholesale divisions.
Stonegate Mortgage Earnings Soar, Originations Off
A surge in gains on mortgage servicing rights significantly lifted Stonegate Mortgage Corp.'s income. But home lending slowed and will fall further.
Nonbank Mortgage Firms Lose Market Share to Banks
During the final three months of last year, non-bank mortgage lenders saw a decline in market share -- resulting in a drop for full-year market share.
Impac Originations Tumble, Could Plunge in Q1
Quarterly home lending sank by over a fourth at Impac Mortgage Holdings Inc. and is likely plunging during the current quarter.
Ocwen Losses, Servicing and Originations Down
Ocwen Financial Corp. cut its quarterly losses. Also retreating was residential lending volume and the mortgage servicing portfolio.
Fairway's Annual Lending, Servicing and Staffing Up
Fairway Independent Mortgage Corp. experienced a year-over-year expansion in its home-lending volume, servicing portfolio and employee count.
Wholesale Lenders Offer Nonprime, High LTV Jumbo
New programs recently being offered by wholesale mortgage lenders include nonprime programs, high loan-to-value jumbo loans and a product for foreign national borrowers.
Record Mortgage Originations at PennyMac
Quarterly and annual home-lending volume at PennyMac Financial Services Inc. climbed to the highest level ever achieved.
Government Finalizes 3 Mortgage Actions
With just two days left in office, the Obama administration is close to bringing three mortgage-related actions to a conclusion.