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Inside Mortgage Trends

June 29, 2007

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Fairway Independent Reaps Benefits From Warehouse Funding

Fairway Independent Mortgage is seeing some results that many larger players aren’t: warehouse funding volumes are at record levels, revenues are up, and recruitment is the best it’s ever been, as the mortgage broker/banker finds opportunity in an environment taking... Read More

Thrift Servicing Revenue Continues to Rebound In the First Quarter, According to IMP Analysis

The rebound in mortgage servicing income that began in the fourth quarter of 2006 continued in the first three months of 2007, and thrifts’ servicing income was up 20.4 percent from the first quarter of 2006. While servicing... [Includes one chart and one graph] Read More

Profiting from Conservative Approach, Mortgage Network Launches Growth Initiative

Mortgage Network maintained a conservative approach as many in the industry reaped huge profits from risky loans. Now that those excesses have felled some of the competition and flooded the job market with seasoned loan professionals, the Danvers, MA-based... Read More

FASB Gives Tacit Approval to MBA Position on Loan Modifications

The Financial Accounting Standards Board did not challenge the Mortgage Bankers Association’s position that efforts to modify troubled subprime mortgages held in securitization trusts do not violate current accounting rules. Neither the board nor the... Read More

Option One Posts More Losses, ResMae Emerges from Bankruptcy, Chase Expands in Subprime

Cerberus Capital Management looks to be acquiring a lender hemorrhaging money, as Option One Mortgage recently posted large losses. And Option One has had to request waivers from its warehouse lenders because it has been unable to meet minimum net income... Read More

Impac Withholds Dividend, Citing Losses on REO Sales

Impac Mortgage Holdings announced this week that it will not pay a second-quarter dividend to shareholders, citing higher than expected losses on the sale of homes the company acquired in foreclosures. It is the first time in five years that the Irvine, CA-based lender... Read More

PremierWest Forms Alliance With PHH Mortgage

Feeling competitive pressure, especially from larger lenders, PremierWest Bancorp has formed a strategic alliance with PHH Mortgage to help improve profitability. PHH will provide a suite of technology services to the bank. Premier, however, will maintain... Read More

Alt A Pioneer Still Believes Careful Low-Doc Lending is a Winning Strategy

Peter Paul was one of the first to offer mortgage products specifically to borrowers who had the money to pay off their loans, but had trouble proving it on paper. Now running his third mortgage company, Paul still believes Alt A lending is a winning business... Read More

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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