Mortgage banking profits fell significantly in both production and servicing businesses during the first quarter of 2007, according to a new analysis by Inside Mortgage Profitability. A group of nine major mortgage lenders reported... [Include one chart and one graph]
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The current turmoil in the subprime market has not dampened the marketability of subprime mortgage servicing rights, which are in more demand than ever, according to experts on the secondary servicing market. “Subprime has surprisingly not been discounted...
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Many mortgage lenders and servicers are placing increasing emphasis on customer loyalty initiatives, banking on the notion that cross-selling multiple financial products to the same customer opens new revenue streams and also increases customer retention. This is a...
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Delta Financial looks to be succeeding where other subprime lenders have failed by acting more like a prime lender. In stark contrast to most of its subprime competitors, Delta originates primarily fixed-rate mortgages, avoids offering risky products, has a...
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Privately held Freedom Mortgage Corp. has finished up its recent acquisition of Irwin Mortgage, and now is setting its sights on government lending, specifically converting subprime customers into FHA borrowers. Based outside of Philadelphia in Mount Laurel, NJ...
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Despite reporting a net loss for the second consecutive quarter, Impac is not retrenching. Rather, the company is moving beyond its wholesale Alt A business by buying a retail lender and forming a subsidiary for the purpose of acquiring, restructuring and...
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A new Warehouse Information Network has been launched as a fraud mitigation tool for mortgage warehouse lenders. The new membership-based collaborative is designed to provide automated risk-mitigation services, shared databases and forums for the exchange of ideas...
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