When KeyCorp bought First Niagara Financial Group, Key was eager to capitalize on First Niagara’s residential mortgage business. KeyCorp has extended that business line — which is locally based — across its own, much larger footprint, with nearly 300...
The latest housing forecast from Fannie Mae has this year’s mortgage originations coming in $35 billion less than previously expected, while next year’s outlook was cut by $61 billion. Economists at the secondary mortgage lender expect home lending by all...
U.S. Bancorp increased home lending activity and expanded the size of its residential investment portfolio. But mortgage earnings deteriorated, while servicing was reduced. Income before income taxes during the three months ended Sept. 30 at the Minneapolis-based...
For the second consecutive week, fewer applications were completed for home loans. As long-term mortgage rates climbed to a seven-year high, the jumbo-conforming spread doubled. In the seven-day period that ended on Oct. 12, the volume of new retail residential loan...
Average credit scores increased on last month’s mortgage production, while averaged debt-to-income ratios declined. The tighter credit conditions came as refinances continued to make up a diminishing share of mortgage production. The share of loans originated in...
