Record BofA Pre-Tax Earnings as Home Lending Drops
Quarterly record pre-tax earnings were reported by Bank of America Corp. In the mortgage business, loan production tumbled on a linked-quarter and year-over-year basis.
Citi Mortgage Originations and Delinquency Up
Citigroup Inc. nudged up quarterly home lending. But the residential servicing portfolio continued its contraction, delinquency deteriorated, and mortgage earnings were weaker.
Purchases to Push Up 2019 Mortgage Originations
Even though national home lending by all originators is expected to retreat this year, an increase in purchase financing is expected to push up next year's overall production.
Chase's Mortgage Earnings Sink, Lending Edges Up
A modest quarter-over-quarter rise in single-family lending at JPMorgan Chase & Co. didn't translate into more profit for the segment. Mortgage holdings expanded, and delinquency improved.
Wells Earnings Climb as Mortgage Originations Drop
Quarterly earnings moved solidly higher at Wells Fargo & Co., though mortgage earnings and originations were down from a year ago. The servicing portfolio continued to be reduced.
Record Non-QM Originations at Angel Oak
Growth in non-QM home lending has driven quarterly mortgage production at Angel Oak Companies to an all-time high.
Rising Rates Drive ARM Share to 16-Month High
As interest rates on home loans climbed to the highest levels in seven years, refinances led weekly mortgage applications lower, and adjustable-rate mortgage share jumped to a 16-month high.
|Mortgage Biz Surges as Gov Activity at 4-Mth High
New mortgage business surged this past week as a four-month high was reached for government activity. Cashout share was the most narrow it's been in a year, while rate-term share was it's widest in seven months.
This Year's Movement Mortgage Layoffs Surpass 300
A fresh round of job cuts at Movement Mortgage LLC has pushed total layoffs so far for this year past 300. The latest staff reductions are the result of lower-than-expected home lending volume.