Profit margins narrowed from record levels in early 2009, but lenders continued to report robust earnings from their mortgage banking activities during the second quarter, according to a new analysis by Inside Mortgage Profitability. Seventeen major lenders that have filed second quarter earnings posted a combined $7.547 billion in profits from their... [Includes one chart and one graph]
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After a relatively smooth ride in the first quarter, the private mortgage insurance industry is expected to report a bumpier second quarter as deteriorating credit trends continued, especially in the prime business, according to industry analysts. While nothing in the quarter indicated imminent collapse of any mortgage insurer, doubt remained for any near-term recovery...
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Industry experts have pointed out a host of problems that are impeding the progress of the Obama administration’s Home Affordable Modification Program, but vendor participation certainly isn’t one of them. A rush of new products and services has become available this month that cater to servicers modifying loans under the federal initiative. The HAMP, effective until...
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The Office of Thrift Supervision is urging thrifts to reevaluate their asset and liability concentration policies and their potential impact on the institution’s profitability. In a recent memo to thrift executives, the OTS said autopsies of failed thrifts revealed that high-risk asset and liability concentrations contributed significantly to a number of recent failures and to...
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With some positive signs for the real estate and mortgage market beginning to tentatively emerge this week, it might be time for opportunistic investors who want to get back into the sector to consider real estate investment trusts, experts say. “Despite past history and the failure or impairment of several mortgage REITs during the financial crisis, the new economic...
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