Merger-and-acquisition activity in the mortgage sector has been relatively mild so far this year, but suddenly the table has turned with a handful of deals announced over the past two weeks and some lenders publicly stating their intentions as buyers. And one thing seems certain: It appears that all of the acquisitions will be accomplished through “asset” purchases as opposed to the acquisition of stock, be it private shares or otherwise. Guild Mortgage, San Diego, inked…
MBA said the average pre-tax production profit was 33 basis points in the first quarter of 2016, compared to an average net production profit of 22 bps in 4Q15.
Joe Garrett of Garrett, McAuley & Co. wonders whether the day is coming when the CFPB will take up residence at some of the nation’s largest nonbank lenders.
Paul Rozo, CEO of Paramount Residential Mortgage Group, Corona, CA, said his shop witnessed a noticeable “uptick” in May and his fingers are crossed regarding the current month.