GreenPoint Financial Corp., New York, has reported earnings of $104 million ($0.85 per share) for the third quarter, down 10% from $126.5 million ($0.94 per share) a year earlier.Thomas S. Johnson, chairman and chief executive of the company, said "the sudden increase in interest rates had an immediate, negative impact on mortgage banking, making the third quarter a difficult one." GreenPoint originated $9.4 billion of mortgages in the third quarter, down 20.2% from the second quarter and 3.2% from a year earlier.
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Flatworld Mortgage Solutions says its former vice president breached his employment agreements by soliciting its customers as he formed a rival offshoring firm.
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The HomeSafe Second product is now available in more than one third of all states, according to the reverse mortgage specialist.
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The Department of Housing and Urban Development agreed to do more to manage due-and-payable obligations contingent on the availability of certain resources.
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The ex-housing official is returning to a previous employer with the aim of helping guide the firm through an evolving landscape in federal policy.
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A $160 million deal to merge Hometown Financial Group subsidiaries and Primary Bank will lead to consolidation under a single brand name of TruNorth.
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The Aspire business reported $2.1 billion of lock volume, up 32% from the first quarter, but total production at the REIT fell to $8 billion from $8.5 billion.
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