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When it comes to earnings and originations, it was a blowout third quarter for Finance of America, the Blackstone-controlled nonbank that’s in the process of becoming public via a special purpose acquisition company (SPAC) maneuver. Overall, FoAM earned $242 million in the period, a sequential improvement of 66%. Originations at the firm increased 12% to $8.5 billion…

According to Inside Mortgage Finance, FoAM ranks 27^th among all home lenders based on results for the first nine months of 2020. The company boasted a gain-on-sale margin of 469 basis points in 3Q compared to 419 bps in 2Q…

For the full year, the lender/servicer is predicting pre-tax earnings of $435 million to $495 million…

New mortgage applications declined 0.6% for the week ending Nov. 27, according to figures compiled by the Mortgage Bankers Association. The refi index decreased to 69.5% of total business from 71.1%. Adjustments were made for the Thanksgiving holiday.

MORTGAGE PEOPLE: Mortgage consultancy Housing Finance Strategies hired Dana Dillard as a principal in the firm, naming her “leader of its diversity and inclusion practice.”  A 25-year veteran of the industry, she joins the firm from mortgage banker Mr. Cooper where she she served as executive vice president.

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