Home Equity Lending Trends
Investor interest in revolving home-equity lines is growing as compliance burdens on closed-end home-equity products increase. One servicing system is being touted as a single solution for all types of home-equity and first lien products.
GSE Mods Ok On FL Loans Delinquent Over 2 Years
Florida borrowers who are more than two years past due on their government-sponsored enterprise mortgages will have an opportunity to modify their loans.
Correspondent Originations Surge at SunTrust
Even though residential loan production was down for the retail channel, SunTrust Banks Inc.'s correspondent acquisitions jumped by a third -- pushing overall originations up.
5th 3rd Ekes Out Gain in Mortgage Originations
Fifth Third Bancorp reported a small quarterly gain in residential loans production. Its mortgage investment portfolio grew, but its servicing portfolio was off.
Proprietary Modification Volume Up, HAMPs Slip
Mortgage Losses Widen at BofA
An increase in the number of monthly proprietary loan modifications completed more than offset a reduction in the number of government-supported modifications.
An increase in new home lending at Bank of America Corp. wasn't enough to offset the cost of a recent massive settlement with the government.
Mortgage Closings Climb at Citi
Citigroup Inc. increased mortgage production, grew its domestic real estate lending portfolio and improved earnings. Legacy mortgage assets were reduced, as was its servicing portfolio.
BofA 2014 Texas Layoffs Surpass 600
A new round of job cuts at Bank of America Corp. has pushed Lone Star State mortgage layoffs past 600 for this year.