Stonegate Production Hurt By Correspondent
For the second time in a row, quarterly mortgage production fell at Stonegate Mortgage Corp., with the most-recent drop due to slowing correspondent business. Servicing and staffing also declined.
Wholesale HECM Production Up as Retail Slides
Although the monthly origination of government-insured reverse mortgages slowed through the retail channel, a modest gain was posted on the wholesale side.
Annual Mortgage Earnings Worse as Originations Drop
As home loan production slowed last year, annual earnings at independent lenders sank. Factored into worse earnings were higher per-loan staffing costs.
Conferences Address MSRs, Wholesale and Reverse
A bouquet of conferences and workshops will bloom throughout March, into April and beyond. With topics that include servicing rights, wholesale lending and reverse mortgages -- mortgage professionals have their pick of subject matter.
The Wholesale Mortgage Wire
One wholesale mortgage lender has upgraded its technology, while another has launched a reverse mortgage product lineup. A consultant is helping wholesalers beef up their businesses.
Wholesale Reverse Originations Off as Retail Rises
Retail originators of government-insured reverse mortgages pushed monthly activity higher, while business slowed at wholesalers.
Credit Challenged Mortgage Program Launching
A new home lending program that targets credit-challenged borrower prospects is being made available through the retail and wholesale lending channels.
Proprietary Reverse Mortgage Production Rises
Proprietary reverse mortgage lenders lifted activity in the final month of last year. Government-insured business improved for both the retail and wholesale channels.
Stonegate Fundings Slip; Staffing, Servicing Climb
Despite growth in servicing and staffing, Stonegate Mortgage Corp. saw a slight decline in quarterly production for the first time in at least three years. Annual originations, however, moved higher.
Provident's Originations Rise
Provident Funding Associates LP saw an increase in its fourth-quarter 2014 loan originations over the previous quarter. Servicing and staffing, however, were down.