Thornburg Mortgage Inc., Santa Fe, N.M., has reported record net income of $45.8 million ($0.68 per share) for the third quarter, compared with $32.6 million ($0.67 per share) a year earlier.Thornburg Mortgage Home Loans Inc., the company's mortgage lending subsidiary, closed $997.4 million in adjustable-rate mortgage loans during the quarter, up 64% from that of a year earlier. "Though interest rates have risen and refinancing activity has declined materially, ARMs have gained in popularity versus traditional 30-year mortgages, and as a result, our origination channels continue to produce healthy volumes," said Joseph Badal, chief executive officer of the lending subsidiary. Thornburg Mortgage, a real estate investment trust, can be found online at http://www.thornburg.com.
-
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25