A fresh batch of earnings reports from 15 major mortgage lenders underscored the strength and breadth of the industry’s financial success in the second quarter of 2013. A group of 15 lenders, including a number of nonbanks and regional banks that typically report somewhat later in the earnings cycle, posted a combined $794.8 million in earnings from their mortgage banking operations during the second quarter, according to a new Inside Mortgage Trends analysis. That was up ... [Includes one data chart]
Redwood Trust is about to have company from other real estate investment trusts looking to issue non-agency jumbo mortgage-backed securities. Two Harbors Investment will issue its first jumbo MBS later this month, and PennyMac Mortgage Investment Trust plans to issue a security by the end of September. Redwood helped revive non-agency jumbo MBS issuance beginning in 2010 and has been active in the sector ever since. Following the financial crisis, no other REITs joined Redwood even though ...
Seeing a business opportunity with the ongoing explosion in new mortgage rulemaking, software providers LendingQB and DocuTech recently formed a strategic alliance, integrating their platforms and enabling their clients to streamline their compliance document preparation. LendingQB is a Costa Mesa, CA-based company that specializes in loan origination technology and services for the mortgage industry. DocuTech, based in Idaho Falls, ID, is a provider of enterprise-class compliant ...
Rising home values and mortgage interest rates drove down nationwide housing affordability in the second quarter, while a projected slowdown in labor force growth suggests weaker future housing activity, various industry analyses indicate. In its latest home price analysis, CoreLogic reported an 11.9 percent year-over-year increase in June 2013 for home prices nationwide, including distressed loans. This represents the 16th consecutive monthly increase in home prices [Includes one data chart] ...
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