Meanwhile, KBW said it’s maintaining forward earnings estimates and $1 a share price target for both mortgage giants. Its overall rating is “underperform.”
Will the FHFA trim cash-out refis by Fannie Mae and Freddie Mac? For now, all is quiet on the topic. In other news: HUD ushered in new regulatory changes for FHA condo financing, making it easier for borrowers and lenders.
As most mortgage bankers know, recessions are generally good for the industry because rates plunge and originations spike. The tricky part is dealing with borrowers who face employment loss…
Quicken Loans, the nation’s largest direct lender, told IMT the firm currently has 1,300 job openings “with positions available in many areas, including mortgage banking and technology.”
There’s also a lag time involved. A deal might be signed and completed but the MSR portfolios might not actually transfer to the new owner for several months.
Francois Grunenwald, Ocwen's new SVP and CAO, is a graduate of the University of Paris. His signing bonus (just for taking the job) is $100,000. He joins the nation’s 12th largest servicer from PricewaterhouseCoopers…
Originations are booming but the government’s latest reading on mortgage employment wasn’t exactly encouraging. Still, interviews conducted by Inside Mortgage Trends reveal that many shops are looking to hire.
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.