Lower Expenses Drive Up Mortgage Production Profits
As quarterly home-lending volume escalated, mortgage banking organizations were able to lower their per-loan production expense and boost their per-loan profits.
Mortgage Firms Make Executive Appointments
Among several recent appointments at real estate finance organizations are an addition to the board of directors at a government-sponsored enterprise, a chief financial officer at a residential lender and a pair of wholesale executives and a large mortgage banking firm.
Across-the-Board Growth at Fairway Independent
In addition to boosting its quarterly home-lending activity, Fairway Independent Mortgage Corp. expanded its residential loan servicing portfolio and grew its payroll.
Stearns Lifts Originations, Servicing and Staffing
Quarterly mortgage originations increased at Stearns Lending Inc., while the size of the mortgage servicing portfolio was larger, and the number of people on the payroll rose.
Record Earnings, Mortgage Originations at PennyMac
PennyMac Financial Services Inc. reported an all-time high for earnings. In addition, quarterly residential loan originations were the highest on record.
Stonegate Swings to Quarterly Profit
Quarterly earnings at Stonegate Mortgage Corp. swung to a profit from a loss three months and a year prior. Originations rose, but the servicing portfolio held steady.
Impac Mortgage Originations Soar, Servicing Grows
Home-lending activity took a giant leap at Impac Mortgage Holdings Inc. In addition, the organization reported sizable growth in its mortgage servicing portfolio.
Ocwen's Earnings, Mortgage Originations Improve
Quarterly earnings and mortgage originations improved at Ocwen Financial Corp. Meanwhile, the mortgage servicing portfolio and staffing have been reduced.
Proprietary Reverse Production Up More Than HECM
A bigger month-over-month increase in volume was recorded for proprietary reverse mortgages than government-insured activity. Wholesale rose more than retail.
Wholesalers Expand Programs, Improve Process
Wholesale lenders have recently added subprime and conventional programs. One wholesaler launched an income verification tool, while another added a broker platform.