After seeing what’s transpired at Nationstar, Owen and Walter the pass year, would Dan Gilbert (who owns Quicken Loans) and Stan Middleman (Freedom’s owner) ever ponder going public?...
A handful of nonbank mortgage companies reporting substantial losses during the fourth quarter weighed down industry-wide mortgage banking income, according to a new Inside Mortgage Trends analysis of earnings reports. A diverse group of 31 mortgage lenders that includes the biggest players in the market earned a combined $3.227 billion on their mortgage banking operations during the fourth quarter. That was down 8.2 percent from the group’s $3.516 billion during the third quarter. The fourth quarter was...[Includes one data chart]
Only one lender accounted for more than 10 percent of the single-family mortgage volume completed by Fannie Mae and Freddie Mac in 2014: Wells Fargo. The bank also dominates deliveries to Ginnie Mae and originations of jumbo mortgages. Wells had $180.89 billion in mortgage originations in 2014, accounting for 14.6 percent of total mortgage originations, according to Inside Mortgage Finance. The bank’s share of mortgage originations declined from 18.9 percent in 2013 as refinance activity slowed and nonbanks made efforts to compete for production and servicing. Officials at Wells said...
CMG Mortgage is the top contributor to the jumbo MBS with a 14.3 percent share, followed by EverBank Financial (8.3 percent) and Bridgeview Bancorp (5.7 percent).
Ocwen Financial – once deemed the fastest-growing residential servicer in the nation – is now facing huge shrinkage and is undergoing what some analysts and investment bankers are now calling a managed or “controlled” liquidation. The questions facing investors and business partners of the company is how fast can Ocwen shrink and what will be left for shareholders other than a pile of cash. “This could be...
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