Big Decline in Wholesale HECM Production
A 12 percent monthly reduction was recorded for government-insured reverse mortgages generated by retail originators. But wholesale activity plummeted by more than a quarter.
CT Mortgage Firm Converts From Broker to Banker
Norcom Mortgage has made the conversion from mortgage broker to mortgage banker -- growing from dozens of employees to hundreds in the process.
Ocwen Originations Slow; Servicing, Income Fall
Ocwen Financial Corp. came up shy of prior-quarter mortgage originations. The servicing portfolio also fell, and corporate earnings plunged.
Correspondent Lifts Stonegate Mortgage Originations
Stonegate Mortgage Corp. is among the very few lenders to report an increase in home lending activity thanks to correspondent activity. Servicing was also up, though staffing subsided.
Correspondent Biz Up at Stearns Despite Overall Dip
While overall quarterly originations at Stearns Lending Inc. moved lower, loan volume from the company's correspondent channel climbed.
Wholesale HECM Business Spikes
While retail originators of government-insured reverse mortgages had a nice monthly bump in new business, the wholesale channel recorded a more than one-fifth surge.
Provident's Lending, Servicing and Staffing Down
A decline in mortgage production at Provident Funding Associates LP was accompanied by contraction in the servicing portfolio and staffing.
New Wholesale Offerings Include Expanded Jumbo
Among new and expanded wholesale lending programs recently unveiled is a jumbo mortgage product with a jumbo loan-to-value ratio.
Mortgage Firms Name New Executives
Among recent management appointments in real estate finance are wholesale lending executives, a foreclosure executive and a former chairman of the Mortgage Bankers Association.
Record Bank Earnings, Soaring Mortgage Originations
Quarterly home lending activity was up by more than a fifth at U.S. banks, while earnings soared to an all-time high.