Correspondent Business Soars at Stonegate
Quarterly mortgage originations increased at Stonegate Mortgage Corp., with correspondent lending activity surging even as new retail business floundered. The mortgage servicing portfolio jumped by nearly half over the past three months.
During the first three months of 2013, home loan production amounted to 9,971 loans originated for $1.900 billion.
The Indianapolis-based company reported the operational data for Mortgage Daily's first-quarter 2012 mortgage origination survey.
Mortgage Servicers Tackle Compliance
An uncharacteristic cold front, complete with wind and drizzle, greeted National Mortgage News' seventh annual Mortgage Servicing Conference attendees on April 23 at the Westin Galleria Dallas hotel.
Originations Off at United Shore
Loan originations slipped from the fourth quarter of last year at United Shore Financial Services LLC. Employment, however, expanded.
Reverse Originations Off as Lender Count Holds
Government-insured originations by reverse mortgage lenders slowed in April. Business was better, however, than during the same month last year, while the number of active lenders in the sector moved slightly higher.
Provident Pushes Servicing Portfolio Past $100 Billion
While quarterly mortgage production slid at Provident Funding Associates LP, the lender added more employees and pushed its mortgage servicing portfolio past $100 billion.
Wholesaler Wins Appeal in Mortgage Fraud Case
A California appeals court has ruled in favor of a wholesale lender that was a victim of mortgage fraud. At issue was the settlement agent's failure to advise the lender of an unauthorized disbursement.
Wholesaler Seeks More Business
A mortgage banker operating from Florida is taking a number of steps to grow its mortgage originations through the wholesale channel.
No M.I. Up to 95% LTV
A new wholesale offering enables mortgage brokers to offer purchase financing at loan-to-value ratios up to 95 percent with no mortgage insurance.
Reverse Production Jumps to Highest Level Since 2011
It has been almost two years since the Federal Housing Administration has endorsed as many home-equity conversion mortgages as it did last month. A unit that was acquired by Ocwen Financial Corp. has ascended to the top spot and turned in record monthly production.
Mortgage Production Profits Drop
A nearly one-quarter jump in issuance at the Federal Home Loan Mortgage Corp. wasn't enough to overcome a month-over-month slump at the Federal National Mortgage Association and Government National Mortgage Association.