Mortgage origination and sales continued to rack up hefty earnings during the third quarter of 2016, but a rebound in servicing profits had an even bigger impact on the bottom line, according to a new Inside Mortgage Trends analysis of earnings reports from 13 major public companies. With a combined $189.5 billion in mortgage originations during the period, the 13 firms reported $2.38 billion in production and secondary-marketing income. That was up ... [Includes one data chart]
Loan origination and secondary marketing pushed profits to a four-year high during the third quarter of 2016, according the latest Mortgage Bankers Performance Report released by the Mortgage Bankers Association. The average mortgage-banking entity earned $3.492 million in net income after adjustments during the third quarter, the MBA reported. That was up 42.8 percent from the previous period and represented the highest average profit since the fourth quarter of ...
Mortgage lenders that generate a lot of jumbo home loans tend to rely heavily on their retail production platforms, while third-party originators play a bigger role in agency-eligible production. That’s one finding from an Inside Mortgage Trends analysis of exclusive survey data collected by Inside Mortgage Finance. Lenders participating in the survey reported that 80.3 percent of their third-quarter jumbo production came through their retail platforms ... [Includes two data charts]
Ginnie Mae late this month released an improved acknowledgement agreement that aims to bolster the liquidity of nonbanks seeking to borrow against the asset value of their mortgage servicing rights. In an interview with Inside Mortgage Trends, Ginnie President Ted Tozer noted that one of the chief aims of the exercise was to offer clarifications to financiers that they, as lenders, would have no legal liability should the servicer of record default on their Ginnie bond payments. “There is no liability for ...
RSS