|California Claims #1 Mortgage Fraud Ranking
DALLAS -- (Dec. 13, 2011) /PRNewswire/ Activity climbed on mortgage fraud cases being prosecuted in California, leaving the state with more fraud than any other. New York also saw acceleration, while Florida's mortgage fraud index topped the list and Minnesota remained prominently perched among the worst locales. But as a whole, the country's case activity was slower.
Mortgage Employment Expands in Q3
DALLAS -- (Nov. 14, 2011) /PRNewswire/ It was the first time in five quarters that mortgage-related hirings outpaced layoffs, according to the Third-Quarter 2011 Mortgage Employment Index from MortgageDaily.com. Recruiting by JPMorgan Chase & Co. helped drive the gain.
MortgageDaily.com Releases Q3 Ranking
DALLAS -- (Nov. 7, 2011) /PRNewswire/ Strong refinance activity helped residential lenders lift third-quarter loan production, and the elevated originations have continued into the current quarter.
2011 Loan Originator Survey Released from MortgageDaily.com
DALLAS -- (Oct. 17, 2011) /PRNewswire/ A survey of some of the highest-volume loan originators provides valuable insight into the practices and services used by this elite group. The report addresses marketing, technology and mortgage compliance.
Bank Failures Sink
DALLAS -- (Oct. 3, 2011) /PRNewswire/ A 42% decline in bank failures this year has mortgage-related casualties sinking from 2010. But litigation against former management at those firms is up.
Foreclosure Lawsuits Push Mortgage Litigation Index Higher
DALLAS -- (Sept. 26, 2011) /PRNewswire/ The Mortgage Litigation Index from MortgageDaily.com climbed to its highest level during any quarter since it was introduced in 2007. Cases challenging the foreclosure process accelerated, though investor actions were higher and criminal activity shot up.
Minnesota Emerges as Mortgage Fraud Hot Spot
DALLAS -- (Sept. 12, 2011) /PRNewswire/ Minnesota has emerged as a problem area for mortgage fraud and helped lift national activity from the first quarter. But a national improvement from a year earlier was attributable to another three states.
Weakening Mortgage Employment Could Strengthen
DALLAS -- (Aug. 29, 2011) /PRNewswire/ More than 2,000 mortgage jobs have been eliminated this year, according to the Second-Quarter 2011 Mortgage Employment Index from MortgageDaily.com. But falling rates and worsening loan performance could lead to increased hirings in the second half.
Home Lending Tumbles
DALLAS -- (Aug. 8, 2011) /PRNewswire/ Residential originations by U.S. lenders fell nearly 20% in the second quarter, according to the Mortgage Lender Ranking from MortgageDaily.com. The biggest-three lenders fueled the decline, while business was less concentrated at the top.
Mortgage Statistics at Mortgage Daily
DALLAS -- (Aug. 1, 2011) /PRNewswire/ Mortgage statistics, some going back more than two decades, are available for an economical price at MortgageDaily.com, a leading source of online mortgage news. The data has been cited in congressional testimony, in the FBI's annual mortgage fraud report and by major news publications.
Investment Bankers, Hedge Funds Turn to Mortgage Daily
DALLAS -- (July 25, 2011) /PRNewswire/ A growing number of analysts from investment banking firms and hedge funds are using Mortgage Daily, a leading source of online mortgage news, as a tool for historical statistics and news about issuers of mortgage-backed securities. Also of interest to the growing Wall Street audience is data on the performance of underlying loans and stories about investor issues.
Reverse Lenders Prominent Among Mortgage Exits
DALLAS -- (July 5, 2011) /PRNewswire/ Reverse mortgage businesses accounted for a bigger share of mortgage-related casualties tracked during the first-half 2011 in the Mortgage Graveyard from MortgageDaily.com. Fewer banks have failed compared to last year at this time, but the same can't be said for credit unions.
Mortgage Servicer Litigation Explodes
DALLAS -- (June 20, 2011) /PRNewswire/ Mortgage servicing litigation increased 88 percent during the first quarter, according to the latest Mortgage Litigation Index from MortgageDaily.com. However, investor-related litigation activity eased, fewer loan modification actions were tracked and the overall level of mortgage-related litigation held steady.
Consumer News Publication Launches Amid Plunging Mortgage Rates
DALLAS -- (June 6, 2011) /PRNewswire/ Interest rates have fallen each week for nearly two months, stand at the lowest level this year and are hovering near record lows. The launch of a new consumer mortgage news publication will help current and prospective borrowers take advantage of these low rates while giving them an improved understanding of available options and the mortgage process.
PHH Breaks Into Top 5
DALLAS -- (May 23, 2011) /PRNewswire/ Business at the nation's mortgage lenders was hurt by rising interest rates, according to the First Quarter 2011 Mortgage Lender Ranking from MortgageDaily.com. But a new lender managed to land a spot on the list of the five biggest originators.
Q1 Mortgage Fraud Index Up 44%
LAS VEGAS -- (May 16, 2011) /PRNewswire/ The first three months of this year brought a 44 percent increase in the dollar volume of mortgage fraud case activity, according to the First-Quarter 2011 Mortgage Fraud Index from MortgageDaily.com. The report, which is being announced from the floor of the Global Technology Summit 2011, indicated that prosecution of mortgage fraud occurs around four years after the crime.
MortgageDaily.com Provides Assistance for Displaced Mortgage Workers
DALLAS -- (April 19, 2011) /PRNewswire/ Thousands of mortgage employees at Bank of America Home Loans and Wells Fargo & Co. have lost their jobs so far in 2011. The staffing cuts are the result of rising interest rates and falling loan originations. Mortgage Daily is providing help for these displaced employees.
Mortgage Fraud Index Falls to 11-Quarter Low
DALLAS -- (April 18, 2011) /PRNewswire/ The Mortgage Fraud Index from MortgageDaily.com has fallen 69 percent over the past year to the lowest level since early 2008, while the dollar volume of associated loans was off by more than half. But the lull might only be temporary.
Mortgage Hirings Slammed
DALLAS -- (April 11, 2011) /PRNewswire/ Mortgage sector jobs went from a net gain in 2009 to a net loss last year, according to the Fourth-Quarter 2010 Mortgage Employment Index from MortgageDaily.com, a leading online news publication for the mortgage industry. A huge drop in hirings was responsible for the overall deterioration.
Fewer Banks Failing
DALLAS -- (April 4, 2011) /PRNewswire/ A 37 percent year-over-year decline in bank failures has the number of mortgage-related operations to close or fail down steeply during the first quarter at the Mortgage Graveyard from MortgageDaily.com. Despite the subdued banking activity, the reverse mortgage sector took a beating.
Mortgage Servicers Pummeled with Litigation
DALLAS -- (March 21, 2011) The final three months of 2010 were very litigious for mortgage servicers. Legal actions against servicers help push the Mortgage Litigation Index up 42 percent as foreclosure cases heated up and actions associated with loan modifications tripled.
Purchases Off, Spreads Deteriorate
DALLAS -- (Feb. 18, 2011) A drop in purchase-money mortgage activity helped pull overall new activity lower this week. Prospective borrowers shopping for 15-year loans and jumbo mortgages found less competitive pricing in the market.
3 Biggest Lenders Close Over Half of U.S. Mortgages
DALLAS -- (Feb. 15, 2011) /PRNewswire/ More than half of last year's originations were generated by just three lenders, according to the Fourth Quarter 2010 Mortgage Lender Ranking from MortgageDaily.com. The share of government-insured loans was higher.
|Mortgage Casualties Fall
DALLAS -- (Jan. 3, 2011) Fewer mortgage-related firms closed their doors during 2010 than in 2009 based on the Mortgage Graveyard from MortgageDaily.com.