Originations were down in the first quarter, but gain-on-sale margins improved. Having a hand in the servicing business helped some firms turn a profit.
Banks with higher IT expenditures are significantly less likely to reject the applications of borrowers that are observably riskier, according to new research.
Expanded use of bid-tape AOT transactions and mandatory mortgage deliveries increase lender efficiencies and boost profits, according to hedge consultancy Mortgage Capital Trading.
Borrowers with certain fixed-rate mortgages from Navy Federal Credit Union can now have their interest rate lowered when rates offered by the lender decline. No refi necessary, only a $250 fee.
The share of consumers surveyed by Fannie Mae in May who said now is a good time to buy a home decreased by 4 percentage points from April, while the share of respondents who said now is a good time to sell increased by 3 percentage points.
Data show that, in the wake of natural disasters, lenders are more likely to approve, originate and sell mortgages to the government-sponsored enterprises. This raises issues of moral hazard and adverse selection, according to economists.
Share prices of real estate investment trusts have suffered for years. But could a rebound be on the horizon, ushered in by merger-and-acquisition activity?
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