Rocket is offering residential solar financing and installation services while New Residential is set to launch an operating company focused on single-family rentals.
Offshoring certain functions involved with originations or servicing can generate cost savings of 25% and beyond. Still, there are risks involved with the practice.
Only two of 21 banks reported increased income from mortgage banking during the second quarter, both due to improvement on the servicing side of the business. (Includes data chart.)
Income fell at four nonbanks in the second quarter, though performance was far from uniform. loanDepot’s profits dropped 94% compared with the previous quarter.
With refi lending expected to wane, lenders are planning to create a faster, more efficient experience for borrowers, according to a new study from Fannie Mae.
Investors in Fannie/Freddie common (and preferreds) were licking their wounds this week after the Supreme Court essentially ruled against them. Moral of the story: Stock speculation is not for the weak of heart.
Nonbanks accounted for most of the improvement in servicing income in the first quarter while also reporting significant declines in originations and secondary marketing. Companies that use subservicers posted significantly higher earnings. (Includes data chart.)
RSS