Some banks pay between 50 and 80 basis points per loan. At the top end of the market are loan officers who earn between 150 and 200 basis points per transaction.
According to figures compiled by Inside Mortgage Finance, Wells Fargo was the nation’s largest home lender in the third quarter with $49.95 billion. JPM was a distant second.
The lion’s share of mortgage repurchase activity involving Fannie Mae and Freddie Mac during the third quarter of 2014 continued to involve loans securitized before the two government-sponsored enterprises were put in conservatorship back in 2008, according to a new analysis by Inside Mortgage Trends. At the same time, however, the 2013 book of business is getting a lot more attention at the two GSEs. Although Fannie and Freddie wrapped up their reviews of ... [Includes two data charts]
Investment banking firm FIG Partners, based in Atlanta, recently inaugurated a new whole-loan trading capability for small to mid-tier community and regional banks. The firm will now buy or sell performing and non-performing residential mortgages as well as commercial real estate, consumer and other types of loans for its bank and investor clients. Company officials say their new whole-loan trading capabilities complement the firm’s securities trading operations. The new platform ...
Mortgage hiring should be somewhat brisk in 2015 as lenders of different sizes plan to expand their sales forces. Prospects are especially positive for mortgage professionals in California, New England, and the Southeast, according to interviews conducted by Inside Mortgage Trends. Quicken Loans, the nation’s largest nonbank originator, hopes to hire approximately 500 new employees in the coming year, including loan officers and underwriters, said company spokesman Chris Smith ...
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