Move over Chase Manhattan Mortgage. For several years now Chase has been the number one ranked correspondent lender in the U.S. (on the buy side) but when Washington Mutual, Seattle, completes its purchase of HomeSide, Jacksonville, Fla., this quarter it will eclipse Chase's volume by several billion dollars. According to the Quarterly Data Report , WaMu/HomeSide produced $34.19 billion through the correspondent channel in Q4 compared to Chase's $27.9 billion...
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Bayview Financial Trading, Miami, hopes to crack the $1 billion mark in commercial loan production this year. It specializes in conventional as well as A- to D lending...
First Magnus Mortgage of California is in the process of hiring seven wholesale account reps who lost their jobs when WaMu whittled down the Santa Rosa office of North American Mortgage. NAMC, whose HQ was in Tampa, Fla., was a subsidiary of Dime Bancorp, New York. (WaMu bought both Dime and NAMC.) But before Dime bought it, NAMC was based in Santa Rosa. WaMu officially closed on Dime/NAMC in early January...
Money and politics make strange bedfellows: Sen. Wayne Allard, R., Colo., has introduced "GNMA Choice" legislation that, in theory, would benefit the mortgage insurance sector and hurt Fannie Mae and Freddie Mac . So it should stand to reason that among Allard's top donors would be the MIs or their trade group -- right? Actually, according to The Center for Responsive Politics, Fannie Mae and its employees, so far, are the top donors to Sen. Allard: $16,000 in the current election cycle, and counting. The Mortgage Insurance Companies of America didn't even rank...
G.E. Capital Mortgage Insurance, which almost always ranks second among MIs in terms of "policies in force" ended the year with $118.13 billion of PIFs. Ranking a very close third was PMI Group with $118.1 billion...
