Flagstar Reduces Size of Mortgage Business
Residential loan production declined at Flagstar Bancorp Inc. as mortgage assets were reduced and mortgage staffing was trimmed. While the servicing portfolio expanded, it was still far leaner than a year ago.
Mortgage Business Falls Below $1 Billion at Regions
Regions Financial Corp.'s home lending business fell below $1 billion for the first time since Mortgage Daily began tracking its originations. Loan performance improved except for on investor commercial mortgages.
New 4-Yr Low for CMBS Delinquency; Healthcare Leads
Delinquency on securitized commercial real estate loans continued a run of improvement, falling to the lowest rate in more than four years. Out front of the improvement were healthcare property loans.
Ocwen Probed Over Fees to Related Company
Ocwen Financial Corp. is being probed by New York's banking regulator over potentially excessive fees being earned by a related company at the expense of borrower and investors.
Mortgages Performing Best Since 2007
The last time U.S. home loans were performing this well was in 2007, while it's been nearly as long since the foreclosure rate has been so favorable.
SunTrust Mortgage Closings Lowest in At Least Decade
New mortgage business at SunTrust Banks Inc. dropped to the lowest level in at least a decade.
Several Executives Land New Jobs at Mortgage Firms
Many of the latest executive appointments in real estate finance were mid-level managers at mid-sized lenders, servicers and wholesalers. Experience for most of today's leaders is measured in decades.
Mortgage Business Contracts at Fifth Third
Quarterly mortgage originations geared down at Fifth Third Bancorp, while the servicing portfolio was reduced and home loan assets were cut.
Agency MSRs Up for Bid
A small servicing portfolio of agency loans is being marketed for sale. Bids are being accepted for portions of the portfolio.