Ocwen Mortgage Originations Bounce Up
After falling to a four-year low, quarterly mortgage originations bounced higher at Ocwen Financial Corp. Servicing and staffing both saw a decline.
Stunning Surge in Fairway Mortgage Originations
Quarterly home lending activity soared by nearly two-thirds from the prior period at Fairway Independent Mortgage Corp. In addition, the size of the staff expanded.
Strong Quarter at Stearns Lending
Quarterly home lending climbed by more than a third at Stearns Lending Inc., while the mortgage servicing portfolio increased and staffing expanded.
Retail and Wholesale HECM Production Slumps
Government-insured reverse mortgage production was down again for both retailers and wholesalers, though wholesale has slowed for more consecutive months.
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.