Fannie, Freddie settlements eat into PNC earnings

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 than expected

Here's proof the housing bubble is about to burst

This recovery is an illusion
W S

Lending

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 than expected
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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No, it's not that bad: It's worse

All indicators point down unless you want to metricize hope and spin
April 16, 2014
This year is already one-third in the books, and everyone is waiting for that fabled “pent-up housing demand” to announce its presence. But if it’s coming, it’s taking its sweet time.
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Mortgage applications climb 4.3%

Refis up as activity reverses four weeks of declines
April 16, 2014
Mortgage activity is up as of last week, after four weeks of declines.
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With prices at six-year high, Southern California home sales hit a six-year low

April 15, 2014
The high costs are driving the amount of sales to a six-year low. There were a total of 17,638 new and resale houses and condos sold in the Southern California area in March. That's the lowest in March since 2008.
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Wells Fargo to expand acceptance of e-sign docs

April 15, 2014
The move comes months after the Federal Housing Administration’s announcement that it would be accepting more electronic signatures on mortgage-related documents as well.
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