New Tenants for Mortgage C-Suites, Boards
Free agency in single-family lending is in full swing, and moves have been made in the boardroom, C-Suites and mid-level management offices.
Impac Mortgage Originations Plummet by Half
Home lending at Impac Mortgage Holdings Inc. turned sharply lower -- plunging by half from the previous period. The servicing portfolio, though, grew.
Loss, Lower Originations at Stonegate Mortgage
In addition to swinging to a quarterly loss, Stonegate Mortgage Corp. saw a big downturn in its single-family lending volume.
New Mortgage Wholesaler Emerges
A newly launched wholesale mortgage lender hopes to stand out in the sector with new technology that streamlines the production process.
Banks' Non-QM Share Drops as 3rd Party Share Up
Loans that didn't meet Qualified Mortgage requirements accounted for a much smaller share of bank originations last year. But third-party and first-time homebuyer share widened.
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.