Stronger profits from their servicing operations were not enough to offset a stiff drop in earnings on loan origination activities during the third quarter of 2009, according to a new analysis by Inside Mortgage Profitability. A group of nine of the top lenders in the industry reported a combined $4.970 billion in income from their mortgage banking operations... [Includes one chart and one graph]
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Newly enacted legislation to extend unemployment benefits includes a tax code change that will expand the carryback period for certain net operating losses from two years to five years. And that could provide a bit of an unexpected boon to mortgage lenders, mortgage insurers and community banks, among the host of businesses that can benefit. “The net operating loss carryback provision … is expanded...
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Impac Mortgage Holdings Inc. announced recently that it had completed a “major strategic accomplishment” in restructuring its balance sheet, and it seems to have escaped some of the biggest dangers in the Alternative A market that the company helped pioneer as it looks for future opportunities. Impac officials said the company executed a settlement agreement with its last warehouse...
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Houston-based Zeus Mortgage may be a small company, but that doesn’t keep it from claiming to be the fastest growing mortgage lender in the U.S. Much of that growth is coming from direct outreach to consumers through marketing, advertising and Web optimization. “The Web has been very influential in drumming up business,” said Steven Kaufman, president of Zeus Mortgage...
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First American CoreLogic figures that its newly patented fraud prevention technology works so well that it can give the system away if it doesn’t find twice as many problems as any competing product.At the heart of the system is a “pattern recognition technology” that is still relatively new to the mortgage industry, company officials said. First American CoreLogic has obtained a patent...
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FNC Inc., a specialist in real estate collateral information technology, says that more and more... CT Lien Solutions, a comprehensive filing, public record search, and portfolio management... Phoenix-based CCG Catalyst, which provides strategic guidance for mortgage lenders, banks... We Save Homes, Inc., a software company that provides technology to help homeowners work...
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