Bank of America: 'We provide all required MSR documents'

Bank of America: 'We provide all required MSR documents'

Responds to Ginnie Mae MSR transfer block

Fannie, Freddie settlements eat into PNC earnings

Earnings barely move from 4Q13

Here are 5 bold mortgage predictions from KBW

Q1 mortgage volume predicted to be $20 billion lower
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Lending

Refinances continue downward trend, ARMs on the rise

ARMs up 5% from March 2013
April 16, 2014
ARMs made up 7.4% of the home loans closed in March. That was up by nearly 5% over March 2013’s figure of 2.5%.
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California home prices reach highest level in 6 years, don’t slow home sales

April 16, 2014
In March, the median price for a home rose to $366,000, which was up $16,000 from February and marks the highest price since March 2008. Despite the high price tag, home and condominium sales were up nearly 21% for the month.
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Bank of America: 'We provide all required MSR documents'

Responds to Ginnie Mae MSR transfer block
April 16, 2014
After Ginnie Mae stopped the transfer of mortgage-servicing rights from Bank of America to a nonbank, BofA emphasized that its servicing portfolios are on par with market requirements.
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3 questions weighing on the FOMC

Labor market, inflation, extra factors all play a role
April 16, 2014
The Federal Open Market Committee is evaluating the impact of recent weak economic reports and if that impact is grounds enough to change its outlook on America’s future.
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Fannie, Freddie settlements eat into PNC earnings

Earnings barely move from 4Q13
April 16, 2014
PNC Financial Services’s residential mortgage banking noninterest income experienced a slight decline due to leftover remnants from settlements. But this did little to impact its earnings compared to the previous quarter.
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National Mortgage Insurance Corp. now licensed in all 50 states

April 16, 2014
Company's licensing approval in Wyoming means it's licensed in all 50 states and the District of Columbia.
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JPMorgan mortgages as profitable as a 10-year Treasury bond

Where did the incentive to make mortgages go?
April 16, 2014
If the lending environment continues, JPMorgan Chase might as well just have put its money in a 10-year Treasury bond than provide mortgages. At least that is what one article is arguing.
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Here are 5 bold mortgage predictions from KBW

Q1 mortgage volume predicted to be $20 billion lower
April 16, 2014
Analysts from Keefe, Bruyette & Woods have joined the prognostication party and released their own predictions for what the first quarter earnings will look like and what that means for the rest of the year.
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U.S. Bancorp's mortgage revenue sliced nearly in half

Earnings hampered by mortgage fluctuations
April 16, 2014
Despite recording signs of strong new lending activity, the slight uptick in mortgages still came up short in U.S. Bancorp’s first quarter earnings, offsetting any potential growth as mortgage banking revenue tumbled.
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Housing starts increase 2.8% after cold winter

Single-family numbers rise again
April 16, 2014
Housing starts were at a seasonally adjusted rate of 946,000, a 2.8% increase from the revised February estimate of 920,000, but a 5.9% drop from the March 2013 rate of 1,005,000, with strength in the single-family component picking back up.
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