Government Finalizes 3 Mortgage Actions
With just two days left in office, the Obama administration is close to bringing three mortgage-related actions to a conclusion.
Non-Banks Grow Share of Mortgage Originations
As U.S. residential lenders saw mortgage production soar on a quarterly basis, non-bank originators grabbed market share from their financial institution counterparts.
Ocwen Consolidates Wholesale, Correspondent
Ocwen Financial Corp.'s operating subsidiary has combined its and wholesale and correspondent sales divisions into a single business.
Solid Mortgage Growth at Finance of America
As quarterly home lending took a giant leap at Finance of America Holdings LLC, the mortgage servicing portfolio expanded and staffing increased.
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.