Banks reported a drop in mortgage-banking income during the second quarter of 2016, according to a new Inside Mortgage Trends analysis of earnings reports from 26 major public companies. But virtually all of the decline came from the four too-big-to-fail banks with over $1 trillion in assets, while regionals posted a substantial increase in mortgage-banking profits. As a group, the 26 banks earned $3.12 billion from mortgage banking during ... [Includes one data chart]
Lenders and servicers are seen as prime targets for cyber criminals that focus on Social Security numbers and bank accounts. Bill Beckmann, president and CEO of MERSCORP, said, “There’s almost nothing more robust” than the information mortgage companies have regarding individual borrowers. Beckmann and Mitch Tanenbaum, a partner at CyberCecurity, a consultant to financial service companies, addressed cyber security issues facing the mortgage industry ...
Panorama Point Partners this summer participated in what it calls a “significant” capital raise for Alterra Home Loans, a Las Vegas-based nonbank started by Hispanic-Americans that’s been on a production tear the past four years, growing originations by upwards of 250 percent every 12 months. If all goes well, AHL hopes to fund $1.3 billion of residential mortgages in 2016, 70 percent of it to minorities, a large chunk of them Hispanics. In short, Alterra sees gold in ...
Most lenders welcome mortgage technology and innovation, but they are divided when it comes to embracing Uber-like industry-wide disruptions, according to new research from Fannie Mae’s Economic & Strategic Research Group. “Today’s consumers access myriad products and services via digital platforms that make it more efficient, simple and pleasant to conduct their business,” said Katrina Jones, vice president of single-family business solutions at ...
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