With New Century Financial in bankruptcy and NovaStar Financial set to drop its real estate investment trust status, the subprime market is becoming inhospitable territory for REITs. However, Thornburg Mortgage is prospering by focusing on jumbo adjustable-rate...
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Mortgage bankers generally pulled more mortgage insurance premiums into their captive reinsurance businesses last year, but most of the gain came at the industry’s top player in this market, Countrywide Financial. Countrywide collected... [Includes one chart and one graph]
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A downturn in the market is often a perfect time for the big dogs to get even bigger, and that seems to be the case this time around for Countrywide Financial. Countrywide is looking for opportunities to exploit its excess capital generation, and is hopeful the rating...
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About half of the 40 largest mortgage lenders have moved some of their operations offshore, and offshoring is spreading beyond technology-heavy applications, according to a new report from Deloitte Consulting. The report predicts that nearly all major...
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The business of college athletics is inherently transient, as coaches, trainers, athletic directors and other sports staffers move around in order to move up. And when they move, they need to sell and buy homes. American Home Mortgage sees opportunity in that...
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When private equity firms acquire mortgage lenders, it can compromise profitability and credit ratings, Moody’s Investors Service warns. The rating service noted that independent lenders do not have regulatory capital requirements, making them prime...
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Wall Street investment banks have acquired a number of mortgage origination businesses over the past year, but some analysts suggest that the firms are likely to abandon their production programs just as quickly. At Information Management Network’s recent...
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Ditech is offering a new service package that it says is the first product offering to combine a new home mortgage or refinance with a home equity line of credit and a credit card that allows customers to earn mortgage principal reduction. “Our customers want personal...
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