Consumer lending

The near future may find more banks ceasing to originate residential mortgages in an effort to stop the slide in stock prices.

CU Companies on Monday said it finished 2015 with "significant growth" in its mortgage lending partnerships.

The final deadline for all Top Producers Survey responses is here. All entries must be submitted online by 6 p.m. EST Monday, Feb. 1.

TFS Financial in Cleveland reported a higher fourth-quarter profit, citing a $1 million negative loan-loss provision.

Umpqua Holdings in Portland, Ore., posted stronger quarterly earnings because of an increase in mortgage banking fees and lower costs.

John Kanas, BankUnited's CEO, said the business never turned a profit, and there were no indications that it would. The company, meanwhile, remains committed to other residential lending operations while focusing on expanding its other businesses across Florida.

Credit unions' share of the mortgage origination market has climbed steadily since the financial crisis. The sector expects to build on that momentum in 2016, even as significant headwinds loom.

Bank of America's mortgage banking income was down 26% from a year ago due to a decrease in core loan production revenue and higher intercompany charges during the fourth quarter.

Synovus Financial in Columbus, Ga., reported a higher fourth-quarter profit on stronger interest and fee income.

Fourth-quarter mortgage banking income at Wells Fargo & Co. totaled $1.7 billion, up 10% from the $1.5 billion recorded in the fourth quarter of 2014, as the gain on originations and sales increased by $145 million year-over-year.

Loan officers from the Top Producers rankings share some of their best career anecdotes and advice behind their success in the mortgage industry.

JPMorgan Chase reported a 21% drop in year-over-year earnings for its mortgage business as revenue dropped 10%.

BankUnited of Miami Lakes, Fla., has exited the retail mortgage origination channel.

Employment at nonbank mortgage lenders and brokers was down in November, according to the latest Bureau of Labor Statistics data.

Ditech Financial, a subsidiary of Walter Investment Management, is exiting the distributed retail mortgage production channel.

As the purchase market heats up, banks are looking to utilize digital tools meant to make the daunting homebuying experience easier.

The more aggressive nonbank lenders are attracting top producers by essentially allowing loan officers to set their own rate of pay. While so-called "pick-a-pay" compensation plans are not illegal, critics say they can encourage loan officers to steer consumers into more expensive loans in order to increase their own pay.

National Mortgage News is pleased to begin accepting submissions for the 2016 Top Producers, an annual ranking of mortgage loan officer and broker origination volume.

Rather than relying on a formal marketing services agreement to get business, loan officers now have to prove that they can provide realty agents and consumers the best mortgage experience.

Jason Evans of Mortgage Master sees his business thrive through close attention to the finer points of customer experience.