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Inside Mortgage Trends

March 18, 2011

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Buybacks Depress Production Profits During 4Q10; Servicing Income Up

Top mortgage banking operations reported a significant downturn in production-related earnings during the fourth quarter of 2010, but the aggregate results mostly reflected severe buyback expenses at one of the industry’s largest lenders. A new Inside Mortgage Trends analysis of earnings reports from nine mortgage lenders found...[Includes one data chart and one graph] Read More

Warehouse Lending Under New Scrutiny

While the liquidity crunch in warehouse funding for mortgage bankers has eased significantly over the past year, innovations in the market are attracting new attention from investors and regulators, according to industry experts speaking at the American Securitization Forum annual meeting in Orlando last month. The Obama administration’s inquiry into the treatment of warehouse financing under the Real Estate Settlement Procedures Act has sparked... Read More

Q&A With Prospect Mortgage CEO Ron Bergum

Last week, Sherman Oaks, CA-based Prospect Mortgage – an independent residential retail mortgage lender and a relatively small jumbo lender – announced it is looking to issue a jumbo mortgage-backed security. The prime jumbos offered... Read More

Mortgage Websites Leave Cash on the Table

A handful of the top mortgage lenders in the country are head-and-shoulders above the rest of their competitors when it comes to utilizing their websites to reach consumers, earn their trust and walk off with their business. But most mortgage lenders’ sites don’t allow them to make... Read More

Costs/Benefits of FHA Short Refi Still Unclear

The Department of Housing and Urban Development’s FHA short refinance program has endured a lot of criticism since its inception, but after becoming vulnerable to legislative termination, HUD officials insist that its popularity will grow, and the program will yield net benefits in the billions. HUD launched... Read More

BofA’s ‘Bad Bank’ Plan Gets Mixed Reaction

Mortgage market watchers are casting a wary eye toward Bank of America’s recently announced plan to segregate its riskiest and worst performing “legacy” loans from the remainder of the bank’s servicing portfolio in the hopes of slowly but eventually winding down its trillion dollar white elephant. Terry Laughlin, the leader of BofA’s new Legacy Asset Servicing Unit, told... Read More

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