Not that I want to sound like a Pollyanna, but it appears that the origination side of the mortgage industry is doing rather well right now. Volumes are strong and likely will outstrip last year’s totals. And what can we say about profit margins? Answer: It’s like manna from heaven. Warehouse lending credit is plentiful. In short, if you can’t make money in this market, you might as well get out now. Meanwhile, we keep hearing anecdotal stories that hiring is strong at several shops. We understand that specialty servicer Vericrest is hiring as is Nationstar, which hopes to be the winning bidder on Residential Capital Corp. And believe it or not, we heard that Bank of America is hiring, though it’s unclear if those new hires are true additions or replacements for those who have departed.
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