Tag Archives: Lenders & Servicers

The Mortgage Bankers Association (MBA) released Wednesday its Quarterly Mortgage Bankers Performance Report, which measures stats at independent mortgage banks and mortgage subsidiaries of chartered banks. According to MBA's figures, average production volume per company was $391 million in Q3, down nearly $48 million from the prior quarter. By count, companies averaged 1,788 loans, down from 1,921 in Q2. In terms of profits, independent mortgage banks earned an estimated $743 on each loan originated in Q3, down from $1,528.

Using weekly application numbers released by the Mortgage Bankers Association (MBA), economic analysis firm Capital Economics calculated a 1.3 percent decrease in total applications for November.

LRES, a national provider of commercial and residential valuations and asset management, announced it is now serving the retail lending division of California-based PennyMac Financial Services.

Before the recovery, high volumes of distressed sales aligned with falling prices--but the script has flipped in the current market, Clear Capital says in a recent report.

A recent guidance from the Federal Housing Finance Agency (FHFA) reveals the agency's decision not to change the maximum loan limit for mortgages acquired by the GSEs in 2014.

Mortgage Contracting Services (MCS), a nationwide provider of property preservation, inspections, and property maintenance to the financial services industry, named Robert Colbeck as chief technology officer.

CoreLogic's Home Price Index (HPI) report for October shows the national home price (including distressed sales) rising 0.2 percent from September.

Mortgage loan production suffered among independent mortgage bankers throughout the third quarter--but servicing revenues are helping to ease the pain for those with portfolios, Richey May revealed in its latest quarterly report. Overall, net income declined 60 basis points from the second quarter, though a 0.07 percent increase in the average value of servicing portfolios helped offset losses at those with servicing interests, Richey May reported.

The Census Bureau released on Monday its construction spending numbers for both September and October, catching up on releases delayed by the partial government shutdown. In September, total construction spending was at a seasonally adjusted annual rate of $901.2 billion, down from August's $903.8 billion. Spending for total residential construction, however, perked up, rising to an annual rate of $334.5 billion. Spending on homebuilding in October was down from the previous month, falling to an estimated rate of $332.9 billion.

Mortgage Master, a super-regional mortgage bank and one of the United States' largest privately owned mortgage companies, announced the opening of its first retail branch in Austin, Texas.