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The critical defect rate for closed mortgage loans continued its decline in the second quarter, as lenders benefited from increased loan volume and profitability, an Aces Risk Management study found.
December 19 -
Lender profitability rose to a high not seen since 2012 in the Mortgage Bankers Association's latest quarterly report despite some variability in revenue generated per loan.
November 21 -
Many mortgage servicers are still relying on spreadsheets to manage their tasks, rather than looking to automation as a problem solver.
October 17Clarifire -
Independent mortgage bankers reported their highest average profit per loan originated in almost three years, benefiting from a large drop in production expenses, the Mortgage Bankers Association said.
August 29 -
Despite a significant rise in first-mortgage production due to lower interest rates, profits from home lending in Citigroup's retail banking division fell slightly in the second quarter.
July 15 -
Independent mortgage banks became profitable again at the start of the year after realizing losses of $200 for each loan they originated in the fourth quarter of 2018, according to the Mortgage Bankers Association.
June 6 -
The moves are part of a plan CEO Rajinder Singh discussed in a conversation with American Banker.
May 17 -
Bank 34 will no longer sell mortgages in the secondary market as it looks to reduce its reliance on volatile revenue streams.
May 7 -
Surging loan production expenses and low revenue killed profits in 2018 for loans originated by independent mortgage bankers and subsidiaries of chartered banks, according to the Mortgage Bankers Association.
April 17 -
Independent mortgage bankers lost the largest amount for originating a loan in the fourth quarter since this data has been tracked, as costs rose and volume dropped, according to the Mortgage Bankers Association.
March 26