SunTrust's Mortgage Income, Originations Drop
Home lending and mortgage earnings weakened from a year ago at SunTrust Banks Inc., though earnings improved on a quarter-over-quarter basis. Delinquency deteriorated.
BB&T Mortgage Lending, Income Sink from Yr Earlier
Quarterly mortgage earnings and originations significantly deteriorated from a year earlier at BB&T Corp., while mortgage delinquency worsened from the previous period.
Freddie Updates Appraisal Requirements
Updates are being made to the Federal Home Loan Mortgage Corp.'s appraisal policies. The change is being made to streamline requirements.
GSE G-Fees Decline
Driven by competitive market pressures, average guarantee fees charged by the government-sponsored enterprises for residential loans rose last year.
Several Mortgage-Related Events in November
A number of mortgage-related conferences and events are on the calendar for the rest of this year -- including several that take place next month. Some events address secondary marketing issues.
Ocwen Unit Among Recent 3rd-Party Lenders to Close
Among three third-party mortgage originators that are closing is an Ocwen Financial Corp. unit. Multiple credit unions failed over this past summer.
Wells' Mortgage Income Worse, Originations to Drop
Mortgage earnings deteriorated at Wells Fargo & Co. While there was a modest quarter-over-quarter rise in home lending, current-quarter activity is likely down. Correspondent lending volume was up. Nonconforming assets grew.
Small Portfolio of GSE MSRs On the Market
Investors hungry for servicing have an opportunity to buy mortgage servicing rights on nearly $200 million in government-sponsored enterprise loans with a Golden State concentration.
Chase Ascends to Biggest Bank as Branches Cut
Third-party mortgage servicing has been reduced 19 quarters in a row at JPMorgan Chase & Co., which now claims to be the biggest bank in spite of cutting branch count 13 consecutive quarters. Employee count has increased each of the past seven quarters, as earnings and residential loan originations were strong.
Ginnie's FY 2017 MBS Issuance Up, Book Expands
Annual fiscal securitizations conducted on behalf of the Government National Mortgage Association increased, while the book of business continued to grow.