When originations boom, warehouse banks clean up. In the second quarter commitment authority to nonbanks increased by 13.5% overall but usage rates are nearing 70%.
Will the third quarter be better than the second for originators? Looks that way. Meanwhile, mortgage M&A advisor Houlihan Lokey might wind up as one of Treasury's GSE advisors.
Thanks to lower rates, residential loan production is booming but some lenders are experiencing capacity issues because they didn’t staff up quickly enough. Hard to find a good loan processor? You bet.
The transfer of bulk mortgage servicing rights was strong in the second quarter but dealmakers didn’t really feel it in the auction market. Investment bankers believe the second half could see strong MSR sale activity.
Top nonbank servicers continued to expand their agency MSR positions in the second quarter via acquisitions and organic growth. Wells Fargo, U.S. Bank and BofA were the only top-10 agency servicers to shrink.
One of the best kept secrets in the industry surrounds CEO compensation at the nation's largest nonbank originators. According to interviews conducted by IMF, some CEOs earn $10 million to $15 million per year.
Lower interest rates resulted in strong originations in the second quarter, causing lenders to smile. But for firms with large MSR portfolios, asset writedowns were the norm.
The company filed for bankruptcy protection this week, a maneuver that could lead to a merger with Finance of America. What the two nonbanks have in common: both are owned by The Blackstone Group. But it’s hardly a done deal.
Quicken rarely talks about its presence in the wholesale/broker market, but the company recently named a new EVP Austin Niemiec in charge of the business. Meanwhile, some have pegged Quicken's wholesale volume at $5 billion a quarter. What's going on here?
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