TD Bank was the top volume gainer among residential lenders in the second quarter but barely made the top 50 volume ranking in the first half of the year. Moral of story: the bigger you are, the harder it is to post huge percentage gains.
The increase in land values is causing home prices to spike across the country, making housing less affordable. Median price per acre of land used for single-family housing increased by 27% from 2012 through 2017.
Who says the stock market isn't receptive to mortgage companies these days? Don't tell that to New Rez and Sachem. Meanwhile, the MSR bulk auction market is springing to life once again.
Expiration of the GSE “patch” will shift more risk to private securities and away from Fannie and Freddie. But, according to CoreLogic, dismantling the loophole will impact millennial borrowers and retirees.
The decline in interest rates earlier this year increased originations and income for lenders and delayed some M&A activity. The lower rates also provided lenders with time to prepare for the future.
Among publicly traded mortgage shops, Lending Tree CEO Doug Lebda took home the most bacon last year: $42.3 million in total compensation. But what do CEOs at private firms earn? The answer is not simple.
A borrower’s liquidity situation seems to be a better indicator of potential default than LTV or DTI ratios, according to the JPMorgan Chase Institute. The institute suggests that the use of emergency mortgage reserve accounts could help alter the DTI ratio standards for qualified mortgages.
Originations are strong in many markets but hiring by mortgage banking firms is not particularly robust. Meanwhile, some executives wonder privately whether the rate rally is getting long in the tooth.