Originations

Mortgage rates dipped for the second consecutive week although 10-year Treasury yields started to rise again, according to Freddie Mac.

Robert Broeksmit, a career mortgage industry executive, will succeed David Stevens as the president and CEO of the Mortgage Bankers Association.

Declining mortgage origination volume and record-high costs drove production income for independent mortgage bankers into negative territory, according to the Mortgage Bankers Association.

After eight consecutive weeks of decreases, mortgage applications increased by 4.1% last week as key interest rates dropped sharply, according to the Mortgage Bankers Association.

Ditech Holding Corp. returned to profitability in the first quarter, benefiting from accounting adjustments related to its emergence from bankruptcy protection in February.

Freedom Mortgage is being punished by a government-owned mortgage guarantor amid concerns that the Mount Laurel, N.J.-based company is helping to enable unnecessary refinances of veterans' loans.

Seasonal hiring gave employment among nonbank mortgage lenders and brokers a boost in April and partially reversed an earlier decline despite growing signs of consolidation in the industry.

Overcapacity in the mortgage industry led to more competitive pricing in the first quarter, said Wells Fargo CEO Tim Sloan.

Mortgage industry hiring and new job appointments for the week ending June 1.

Citizens Bank's $511 million acquisition of Franklin American Mortgage will beef up the bank's servicing portfolio and diversify its origination business at a time when higher interest rates have put a damper on refinance volume.