Mortgage Expansion Planned for Bank Merger
A bank merger that was completed last summer was expected to enable the planned expansion of three business, including the residential lending business.
Mortgage Servicers Swing to Profit on MSR Gains
Earnings at independent servicers of residential loans swung to a profit in the final quarter of last year. Behind the improvement were gains on mortgage servicing rights.
Secondary Gains Hurt Mortgage Production Income
Earnings at independent mortgage banking firms plummeted more than 50 basis points on a quarter-over-quarter basis. Secondary marketing gains and expenses hurt income.
Finance of America Funds Over $18 Billion in 2016
More than $18 billion was originated in 2016 by Finance of America Holdings LLC. The mortgage servicing portfolio exceeded $4 billion as of year end.
PHH NY Layoffs Reach 240
A new round of layoffs disclosed by PHH Mortgage Corp. brings to 240 the number of layoffs recently announced for the Empire State.
Few Mass Mortgage Layoffs
Despite a projected drop in home-lending activity this year, there have been few mass layoffs so far in the industry. Two bank mergers will result in job cuts.
Over 100 Layoffs at Banc of California
As the sale of Banc of California Inc.'s mortgage business approaches, the financial institution has disclosed plans to layoff more than a hundred employees.
Walter Slashes Servicing, Swings to Profit
Losses turned to profits during the last quarter of 2016 at Walter Investment Management Corp. The mortgage servicing portfolio significantly declined.
Brokers Pull Down Mortgage Employment
A month-over-month decline in the number of people working in real estate finance was the result of a drop in staffing at the nation's mortgage brokers.
Best Mortgage Employers 2017
The latest ranking of the country's 100 best organizations to hold a job at reflected six mortgage-related businesses, including the third-largest lender.