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Inside Mortgage Trends

November 10, 2006

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Mortgage Banking Profits Hammered In Brutual Third Quarter Environment

Mortgage banking took it on the chin in the third quarter as profitability fell sharply from an unusually high level in the previous three-month period. A new Inside Mortgage Profitability analysis of earnings reports filed... [Includes one chart and one graph] Read More

Many in the Industry Feel the Correspondent Channel is a Lost Cause, But Not Taylor Bean, AHM

Correspondent production, up 16.5 percent, was one of the contributing factors to a surge in second quarter lending volumes, according to our affiliated newsletter, Inside Mortgage Finance. Nevertheless, concerns still simmer within the mortgage industry that... Read More

H&R Block Puts Its Mortgage Lending Unit Up for Sale, New York Mortgage is Looking for a Merger

Merger and acquisition activity has heated up in the past three weeks as firms look to find buyers for stressed lending platforms.In the past few days, Option One became the latest unit put up for sale. Parent H&R Block reported that it had to trim its... Read More

Latest Gov’t Figures Show Ranks of Loan OfficersFell in September as Firms Right Size Operations

Mortgage industry payrolls edged up in September for the second month in row, according to preliminary estimates by the U.S. Department of Labor’s Bureau of Labor Statistics. However, the ranks of loan officers did shrink by 900 positions. Total employment in... Read More

NetBank Looked Hard, But After Not Finding Any Takers, Decides to Shutter Subprime Unit

Struggling NetBank had been searching high and low to find a new owner for its ailing subprime origination platform, but that effort failed. So the company this week announced it had shuttered its subprime business, opting to take a one-time charge on the... Read More

Slow Acting FASB Moves Fast to Amend Controversial MBS Rules Opposed by Issuers

The Financial Accounting Standards Board moved uncharacteristically fast to amend recently adopted FAS 155 rules dealing with pass-through mortgage-backed securities that had raised a storm of protest from the mortgage industry. In its decision, FASB agreed... Read More

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