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The Cincinnati bank's new division will lend to nonbanks that make or bundle together residential mortgage loans, whose businesses have slowed as higher interest rates lower appetite for refinancing. The warehouse sector has seen "fierce competition" among banks lately, one analyst wrote.
September 20 -
The bank produced $1 billion less in originations while its gain on sale fell 49 basis points from the first quarter.
July 28 -
Despite that decline, the company notched its second-best quarterly earnings ever over that period.
January 21 -
The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.
September 10 -
The company's planned two-week halt on originations turned into more than two months on hiatus because of coronavirus-related market disruptions.
June 4 -
Refinancing drove a 75% year-over-year increase in mortgage banking revenue during the first quarter at Flagstar Bancorp as it shored up its operations to avoid other negative repercussions from the coronavirus.
April 28 -
Impac Mortgage temporarily shut lending operations and furloughed 333 workers due to market turmoil tied to the novel coronavirus.
April 22 -
Impac Mortgage Holdings suspended all mortgage lending activity for a two-week period effective March 31, citing liquidity constraints at the company's secondary market counterparties as a result of the coronavirus.
March 30 -
Two Harbors, a real estate investment trust, sold the bulk of its nonagency mortgage-backed securities portfolio to head off margin calls and refocus on its more favorable agency-MBS investments.
March 26 -
Flagstar Bancorp, one of the nation's biggest lenders to mortgage providers, has stopped funding most new home loans without government backing.
March 23