First Quarter Strong For IndyMac: Record quarterly earnings were reported by IndyMac Bancorp Inc. on Monday morning. The mortgage giant reported a quarterly mortgage production topping $20 billion, and earnings of $80 million for the same quarter.
Added May 1st, 2006 – Click here to read more!
NetBank Explores Mortgage Options: In an effort to improve earnings, NetBank has put forth an idea to sell its mortgage servicing platform. Included in the proposal is most of the company�s portfolio servicing rights.
Added May 2nd, 2006 – Click here to read more!
Bank Earnings Hurt By Cooling Market: A decrease of more than 50% in new loan applications has left a lot of independent mortgage companies in negative earnings. The trend has also led to consolidation of loan offices for larger lenders.
Added May 3rd, 2006 – Click here to read more!
Mortgage Companies Use India As Option: As industry trends show a continued slowing in the mortgage arena, companies are now looking to offshore some of their process to India. The move would relieve some of the financial strain that lenders are feeling.
Added May 4th, 2006 – Click here to read more!
Mortgage Leads Are �Hot� Commodity: The mortgage industry has become more competitive as the market has cooled. In a new move to remain competitive, some companies have begun to steal mortgage leads, making the lists a commodity to protect.
Added May 5th, 2006 – Click here to read more!
Makeover Possible For Reverse Mortgages: Senior citizens may get an even better deal when it comes to reverse mortgages. The program, already a popular choice for older borrowers, would allow a larger draw from the owner�s home equity.
Added May 8th, 2006 – Click here to read more!
Rising Rates to Create Refinance Boom: As rates and index increase, major lenders expect a rise in refinances. The trend will be toward fixed rate mortgages as those who opted for an adjustable rate mortgage begin to feel the pinch.
Added May 9th, 2006 – Click here to read more!
Freddie Mac Products Get New Life: An internet-based system offered by Freddie Mac, the nations second largest home funding company, will be expanded. The summer is set to bring more options from the company by way of the new selling system.
Added May 10th, 2006 – Click here to read more!
Mortgage Lenders Have New Tool Against Fraud: CoreLogic has designed a new system that analyzes behavior in order to detect suspicious patterns in borrowers. The new engine will hopefully enable lenders to cut down on the amount of borrower fraud.
Added May 11th, 2006 – Click here to read more!
Back Office Mortgage Fraud on Rise: The American dream of owning a home is experiencing another speed bump; real estate agents and brokers that are teaming up on the buyer. Subtlety has increased the risk of broker/agent collusion.
Added May 12th, 2006 – Click here to read more!
Rates Also Up in China: Rising housing rates are not just and American concern. China has raised its public housing rates by almost 10%, a jump that may put homeowners into a financial crunch.
Added May 15th, 2006 – Click here to read more!
Mortgage Giant Goes Out of Business: The current housing market has affected small and large lenders alike. Many small mortgage companies have gone belly up in the cooling market. They are now joined by a larger lender; Liberty Home Loan Group.
Added May 16th, 2006 – Click here to read more!
State Agency Gets More Complaints: In what seems a never ending battle, mortgage complaints are still rolling in across the nation. As the heat rises in a slow market, lenders and brokers are going to extremes to secure business.
Added May 17th, 2006 – Click here to read more!
Mortgage Expansion for Morgan Stanley: Amid a growing trend for cutting back in the mortgage field, Morgan Stanley is aggressively searching for mortgage origination and servicing acquisitions. The turn is a response to the company�s plan to become more competitive.
Added May 18th, 2006 – Click here to read more!
Colorado Eyes Mortgage Regulation: Though Colorado has largely stood alone in the ongoing battle with state mortgage regulation, the state has begun to recognize the growing need for standards. Some ask if the governor�s signature is too little, too late.
Added May 19th, 2006 – Click here to read more!
Mortgage Lender Opens Doors in Tampa: Some mortgage lenders are closing their doors on the west coast of the Sunshine State. Meanwhile, IndyMac will be supplying almost 150 mortgage positions as the company opens a new mortgage center in Tampa.
Added May 22nd, 2006 – Click here to read more!
Fees Cause Problems for Mortgage Company: British lenders have been warned that excessive fees may lead to legal action. The watchdog hopes that companies will back down over an exit fee, money that the group says is erroneous.
Added May 23rd, 2006 – Click here to read more!
Sting Busts Mortgage Scam: A Chicago man thought that the meeting at a Skokie restaurant last year would hatch a creative mortgage rip off. Instead, the scam ended up putting the man behind bars.
Added May 24th, 2006 – Click here to read more!
Affordable Mortgage Offered Through USDA: Government insured home loans may be boring to most lenders, but as rates and home values rise, government mortgages are on the rise. The popularity is partly due to programs that allow little or no money down.
Added May 25th, 2006 – Click here to read more!
Lenders Looking to Expand, Stay Competitive: The mortgage market is beginning to stabilize, sometimes at the cost of lenders closing. But as smaller lenders shut their doors, Old Merchants Bankers are looking to expand and take advantage of a more open market.
Added May 26th, 2006 – Click here to read more!
50 Year Mortgage Raises Eyebrows: Housing prices are high, rates continue to rise, but people still need homes. The answer may be in the form of a 50-year mortgage, although some warn that the idea may be hazardous for all involved.
Added May 29th, 2006 – Click here to read more!
Mortgage Demand Not Affected by Low Rates: The mortgage market has been volatile for months now. Rising rates, increased housing costs and inflated mortgages were named as factors for the cooling trend. But recent experience notes that low rates alone won�t help the mortgage industry.
Added May 30th, 2006 – Click here to read more!
Cool Mortgage Market May Help UK Economy: For the first time in nine months, approvals for mortgages fell. Though dropped housing prices did not start a rush for borrowers, the trend in the market may begin to help level the British economy.
Added May 31st, 2006 – Click here to read more!