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July 28, 2014

Big Banks Report Substantial Increase in 2Q14 Mortgage Income

By John Bancroft

Although only one of the 21 banks (BB&T) posted a net loss on mortgage banking during the second quarter, seven others reported lower profits than they had in the first quarter.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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