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Inside Mortgage Trends

November 22, 2013

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Banks Report Sharp Decline in Mortgage-Banking Income During Third Quarter

Mortgage-banking operations owned by banks and thrifts of all sizes reported huge declines in earnings during the third quarter, although some organizations fared significantly better than others, according to a new Inside Mortgage Trends analysis of call-report data. As a group, banks and thrifts reported net earnings of $4.76 billion on their mortgage-banking activity during the third quarter. That was down 41.7 percent from the second quarter, and it marked the lowest three-month ... [Includes one data chart] Read More

Can Ellie Mae Be Sold in a Tough Market?

One of the worst-kept secrets in mortgage technology is that Ellie Mae, which went public almost two years ago, is entertaining offers. But can the firm – the brainchild of technology veteran Sig Anderman – get a deal done before originations fall even more? Not surprisingly, Anderman isn’t taking press calls on the issue. As a rule – and to avoid disclosure violations with the Securities and Exchange Commission – public firms usually don’t discuss the blow-by-blow on takeover talks. However, that isn’t ... Read More

Stonegate Sees Growth in Retail, Purchase Loans

Officials at Stonegate Mortgage suggest that the nonbank is primed for growth with plans to acquire a number of small originators that focus on purchase-mortgage production. Stonegate completed its initial public offering of stock in October and raised more than $220 million in equity capital this year, including $124 million from the IPO. Stonegate refers to its growth strategy as “retail tuck-in acquisitions.” The nonbank recently hired a management team to oversee the acquisition of lenders ... Read More

Production Saw Biggest Income Declines in 3Q13

With mortgage origination volume dropping sharply and gain-on-sale margins shrinking, it’s not surprising that the biggest downturn in mortgage-banking income during the third quarter came from production-related activities rather than servicing. A new Inside Mortgage Trends analysis of earnings shows that 10 major lenders reported a total of $1.66 billion in production-related income during the third quarter of 2013. That was down a whopping 62.5 percent from the second quarter. Total mortgage [Includes one data chart] Read More

Vantage Eases Qualified Mortgage Compliance

Vantage Production LLC is trying to build compliance, suitability and accountability into the mortgage sales process – things that can help lenders comply with the daunting qualified-mortgage rule as they streamline their sales and marketing processes. The vendor says its Vantage Integrated Production (VIP), an enterprise-level customer-relationship management platform, enhances loan-officer productivity and increases sales while providing corporate control of compliance. This software-as-a-service ... Read More

Aggregator Market Diverse and Deeply Populated

Many of the big brand names in the mortgage industry have backpedaled from the correspondent and broker market, but a new Inside Mortgage Trends analysis of loan-level Fannie Mae and Freddie Mac data reveals a very deep and diverse group of loan aggregators still remains in the market. During the first nine months of 2013, there were 512 different companies that sold mortgages to the government-sponsored enterprises that had been originated by loan correspondents of mortgage brokers. Some 324 of ... [Includes data chart] Read More

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