Inside Mortgage Trends

Mortgage Banking Income Plummets, Led by Countrywide and ResCap Losses

Mortgage banking took heavy losses during the third quarter, with 28 top lenders posting an aggregate loss of $2.56 billion, according to a new analysis by Inside Mortgage Profitability. It was the first time the industry posted an... [Includes one chart and one graph] Read More

Countrywide Pins Pledge to Restore Profitability on Servicing, Bank Deposits and Retail Focus

Countrywide Financial reported a loss of $1.2 billion for the third quarter last week, its first quarterly loss in 25 years. At the same time, the lender’s top executives said the company would return to profitability next quarter. Some analysts were skeptical... Read More

Bankruptcies Present Opportunities to Grab Assets At a Discount, But Buyers Must Jump Hurdles

The mortgage market’s continuing slump means many surviving entities will be in a position to take advantage of opportunities created by the demise of their competitors, in part by buying up mortgage portfolios and mortgage servicing rights. In a recent publication... Read More

Partnership Plans to Buy Distressed Mortgages, Restructuring Some and Creating Rental Units

Dalton Investments, LLC, and Beach Front Property Management hope to profit from escalating mortgage delinquencies by buying defaulted loans and the properties secured by them at a discount. The new joint venture “will combine Dalton’s expertise in distressed debt... Read More

Ditech Marketing Campaign Focuses on Selling Additional Products to Existing Customers

Some lenders are finding success in a challenging market by pinpointing the most likely candidates among current borrowers for further services and cutting back costs on redundant marketing programs. For example, GMAC and its subsidiary, Ditech.com, are... Read More

IBM and Xerox Enter the Mortgage Technology Field, Undeterred by Market Turmoil

An epic industry downturn has only encouraged two business technology giants to enter the mortgage sector this year. IBM has formed IBM Lender Business Process Services Inc., which will specialize in mortgage origination services. Meanwhile... Read More

Banks in “Pain Management Mode” After Subprime Meltdown, Fitch Executive Says

U.S. banks are larger participants in the mortgage market now than ever before, and they’re paying for it. The good news is, they’re generally diversified enough in terms of their earnings to handle their exposure. Those were two key take-aways from a presentation... Read More

November 2, 2007

View Archived Issues

Mortgage Banking Income Plummets, Led by Countrywide and ResCap Losses

Countrywide Pins Pledge to Restore Profitability on Servicing, Bank Deposits and Retail Focus

Bankruptcies Present Opportunities to Grab Assets At a Discount, But Buyers Must Jump Hurdles

Partnership Plans to Buy Distressed Mortgages, Restructuring Some and Creating Rental Units

Ditech Marketing Campaign Focuses on Selling Additional Products to Existing Customers

IBM and Xerox Enter the Mortgage Technology Field, Undeterred by Market Turmoil

Banks in “Pain Management Mode” After Subprime Meltdown, Fitch Executive Says

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Featured Poll

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