Technology

Back in July the credit union beefed up its jumbo ARM lending, rolling out new products with introductory rates as low as 2.875%.

The value of mortgage servicing rights remain at historically low levels, creating one of the best buyer's markets in the history of the business.

One of its highlights was technology, data and analytics where revenue rose 11% to $192 million. Its EBITDA margin was 26.7%, up 460 basis points from last year.

It almost seems like old times again. Single-family housing starts spiked 11% in September from the prior month to the highest level since August 2008.

The government owned bank will fund jumbo mortgages through brokers and correspondents.

Mortgage brokers accounted for almost half the job gains since the beginning of the year, according to an analysis by National Mortgage News.

Fannie Mae ended September with loan commitments to buy $76.5 billion of new mortgages, a sign that originations will stay strong until yearend.

The survey, however, offers no specifics on residential loan officers, who according to National Mortgage News, are doing quite well this year.

At the end of September, Redwood Trust had 49 active residential loan sellers, up from 37 at June 30. It hopes to have 55 (correspondent) sellers by year end.

Timios National Corp. aappointed Trevor G. Stoffer chief operating officer and Norman E. Gottschalk III chief technology officer.