Servicing

Independent mortgage bankers profits are up, according to the Annual Mortgage Bankers Performance Report. Independent mortgage banks and mortgage subsidiaries of chartered banks made an average of $157 more on average per loan originated in 2016 compared to 2015. The report also found that average production volume was $2,679 million per company, another increase from 2016’s $2,504 million per company.

A new study by Trulia shows that while doctors can still afford most markets, teachers, first responders, and restaurant workers are getting increasingly shut out of markets where they work. Availability for solid, even above-median earners in coastal California is especially low. However, even there, some pockets of affordability exist.

The second annual Lenders One Mortgage Barometer indicates favorable conditions ahead. First-time buyers, Generation X and millennials are expected to drive demand for mortgages, while lenders are advised to stay creative to meet economic demand drivers. About three in five surveyed lenders anticipate an increase in new homeowners entering the market

LenderLive Network LLC, a mortgage services provider, announced that it has completed its transaction with PHH Mortgage Corporation. LenderLive will now assume PHH’s private label fulfillment operations in Jacksonville, Florida.

A new study suggests that after the Fed began quantitative easing in 2008, many lenders began leaning more toward refinancing applicants than those seeking new purchase loans. This was likely due to the stronger payment history and less risk associated with these applicants. Weaker, less-capitalized banks were more likely to follow the trend.

Wallethub analyzed data from all 50 states and the District of Columbia to determine which states could be considered the best for millennials to live in. North Dakota was the top-ranking state on Wallethub’s overall list, but No. 2 in terms of housing affordability. That rank went to Iowa. At the bottom housing cost list for millennials was Hawaii, with its historically high cost of living.

A newly released forecast predicts home prices to appreciate 3.5 percent across the country over the next year. Denver and Seattle are slated to see the most growth, while Alabama will likely be home to the nation’s worst markets. Parts of the NE, Texas, and Florida will also see growth over the next 12 months as well.

This Wednesday, Lenders One Cooperative will release results from its survey on mortgage lender sentiment. The survey will cover jumbo loans, growth, and foreclosure, and will discuss emerging ...

On Thursday, the National Mortgage Servicers Association held a member meeting in Washington D.C., where some of the nation’s top servicers heard from Consumer Financial Protection Bureau Director Richard Cordray. This comes on the heels of Wednesday's Five Star Government Forum, where attendees listened to top-level speakers and participated in panel discussions on the economy and the future of the market.

Jumbo and Government loans jumped in March, boosting overall credit availability. However, Conforming loans saw a drop of 2.6 percent in that time, driven by increased home prices and rising interest rates.