The number of eNotes being added to the MERS eRegistry is sharply increasing, indicating a growing use of eClosings. Some 36,000 eNotes were added in the third quarter compared with 17,000 in all of 2018.
For the fiscal year ending Sept. 30, 2018, MBA took in $65.1 million of revenue versus expenses of $54.4 million, according to a newly released tax filing. Roughly half of its annual revenue comes from its hugely popular annual convention.
Limited housing supply hurt lenders’ efficiency metrics in 2018, according to a benchmarking study by Mortgage Cadence. The average time to close a mortgage increased sharply and pull-through rates declined.
Seven publicly held nonbanks reported a combined loss of $47.8 million on their mortgage banking operations in the second quarter as interest rate volatility hammered their servicing books.
Who says the stock market isn't receptive to mortgage companies these days? Don't tell that to New Rez and Sachem. Meanwhile, the MSR bulk auction market is springing to life once again.
The decline in interest rates earlier this year increased originations and income for lenders and delayed some M&A activity. The lower rates also provided lenders with time to prepare for the future.
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