LOs Continue to Migrate from Banks to Nonbanks
As the number of mortgage loan officers expanded, the quarterly trend of originators fleeing financial institutions for non-bank home lenders continued.
BofA Earnings, Mortgage Originations Up
Quarterly earnings were stronger at Bank of America Corp. as originations improved. The payroll expanded, and the residential and commercial mortgage portfolios grew.
Citi's Home Lending Up, Mortgage Earnings Down
As company-wide earnings improved at Citigroup Inc., mortgage income fell. Headcount, servicing and single-family assets were all lower, and delinquency was higher. But residential loan originations rose.
Mortgage Originations Up at Chase, Servicing Down
Although quarterly mortgage earnings deteriorated from a year ago at JPMorgan Chase & Co., company-wide income rose. Mortgage originations fell, as did servicing and headcount.
Wells Fargo's Home Lending Heightens, Headed Higher
Company-wide earnings deteriorated at Wells Fargo & Co. But it boosted quarterly home lending volume, and the current quarter is poised for further escalation. Correspondent share tumbled.
Politician Questions Wells Fargo Mortgage Layoffs
A U.S. senator is demanding more information from the chief executive officer of Wells Fargo & Co. about mortgage job cuts in his state as the company outsources work overseas.
Wells Fargo Cutting Md Mortgage Jobs
As the inventory of foreclosed properties has diminished at Wells Fargo & Co.'s mortgage banking unit, the company is reducing headcount in Maryland.
Mortgage Employment Expands Despite Broker Drop
After sinking to the lowest level since the turn of the century, unemployment rose as the labor participation improved. Despite a drop in broker count, non-bank mortgage employment grew.
New Mortgage Call Center Will Employ Over 100
A new call center in South Carolina that was launched by Princeton Mortgage Corp. will be the home for in excess of a hundred new employees.
Over 100 Mortgage Jobs Being Created in NM
Less than a month after hiring a new president, Waterstone Mortgage Corp. announced plans to add more than a hundred people to its staff in the Land of Enchantment.