Home >> Tag Archives: Profits (page 10)

Tag Archives: Profits

Revised Q2 GDP Shows Unexpected Strength

Second quarter growth was calculated at a seasonally adjusted annual 2.5 percent rate, a sharp increase from the 1.7 percent initially reported for gross domestic product (GDP), the broadest measure of the nation's economy, a month ago.

Read More »

Report: Production, Profits Up at Independent Mortgage Bankers

Production and profitability both increased among independent mortgage bankers last quarter, though commissions continue to decline, according to a quarterly trend report released by Richey May & Co. The quarterly benchmarking survey--put together using the company's Richey May Select analytical technology--shows overall production increased among independent mortgage banks by 11 percent from the first quarter to the second.

Read More »

Mortgage Banking Profits Decline at BofA Despite Rising Originations

Bank of America reported a major boost in profits for the second quarter despite a drop in mortgage banking income. According to its quarterly earnings report, BofA pulled in approximately $4.0 billion in Q2, an increase of 63 percent over the $2.5 billion recorded for Q2 2012. On the origination side, the bank funded $26.8 billion in residential home loans and home equity loans, up 7 percent over the first quarter and 41 percent over the same quarter last year.

Read More »

Commentary: Unintended Consequences

When Congress enacted Dodd-Frank in retribution for perceived ills, you had to know banks would come up with new ways to replace lost revenues, but bankers were too clever by half.

Read More »

GET THE NEWS YOU NEED, WHEN YOU NEED IT.

With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.