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.
Fairway Independent Mortgage Grows
Not only did quarterly loan originations increase at Fairway Independent Mortgage Corp., but the servicing portfolio grew and human resources expanded.
Share of Non-QM Lending Grows at Banks
Although new mortgage regulations continue to hamper home lending at the country's banks, a growing share are willing to step out of the box. The share of originations from third parties diminished.
Retail HECM Biz Up from 2015, Wholesale Off
While both retail and wholesale government-insured reverse mortgage business was up from a month earlier, only retail improved on a year-over-year basis.
Mortgage Production Profits Up, Servicing Down
While efficiency improved in both originations and servicing last year, only the production segment saw an improvement in profits.
Banks' Mortgage Market Share Drops 4 Points
Federally insured banks saw their share of the U.S. mortgage market fall 4 percentage points last year, and non-banks were the beneficiaries.
Wholesale Mortgage Lenders Enhance Offerings
Recent activity in wholesale lending includes new non-QM programs, an expansion of states for one lender and the targeting of financial institutions by another.
Mortgage Production Profits Fall as Volume Drops
Quarterly profits fell at the nation's mortgage bankers as originations declined, production expenses rose and lenders grappled with new integrated disclosures.
Retail HECM Originations Tumble
Although monthly government-insured reverse mortgage originations dipped at wholesalers, volume tumbled at retail originators of reverse mortgages.
Lenders Tout Mortgage Origination Statistics
Whether it's government-backed lending, wholesale lending or purchase financing -- several mortgage banking firms have recently been touting their residential loan production both on a national basis and at a more local level.