Mortgage banking took it on the chin in the third quarter as profitability fell sharply from an unusually high level in the previous three-month period. A new Inside Mortgage Profitability analysis of earnings reports filed... [Includes one chart and one graph]
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Correspondent production, up 16.5 percent, was one of the contributing factors to a surge in second quarter lending volumes, according to our affiliated newsletter, Inside Mortgage Finance. Nevertheless, concerns still simmer within the mortgage industry that...
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Merger and acquisition activity has heated up in the past three weeks as firms look to find buyers for stressed lending platforms.In the past few days, Option One became the latest unit put up for sale. Parent H&R Block reported that it had to trim its...
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Mortgage industry payrolls edged up in September for the second month in row, according to preliminary estimates by the U.S. Department of Labor’s Bureau of Labor Statistics. However, the ranks of loan officers did shrink by 900 positions. Total employment in...
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Struggling NetBank had been searching high and low to find a new owner for its ailing subprime origination platform, but that effort failed. So the company this week announced it had shuttered its subprime business, opting to take a one-time charge on the...
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The Financial Accounting Standards Board moved uncharacteristically fast to amend recently adopted FAS 155 rules dealing with pass-through mortgage-backed securities that had raised a storm of protest from the mortgage industry. In its decision, FASB agreed...
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