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Items Tagged with '2013'

ARTICLES

Mortgage profit tanked in 2013

Per-loan production expenses skyrocket in second half
In just a year, the average profit of each loan originated by mortgage banks was sliced in half, but the year didn't start off this way. What happened?
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Stonegate Mortgage originations increase 152%

Lender navigates tough year with strategic acquisitions

Stonegate Mortgage not only overcame the challenging market conditions during the second half of 2013 but also posted a strong increase in originations and its servicing portfolio due to several strategic acquisitions.


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Ally earnings tumble amid mortgage settlement costs

Officially finished with mortgages
Ally Financial officially exited the mortgage business by the end of 2013 but not without incurring significant losses. Ally recorded a net income of $104 million for the fourth quarter of 2013, a giant drop down from a net income of $1.4 billion for the fourth quarter of 2012.
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Not all lending pulls back

Multifamily, commercial lending grows 7% from 2013
Despite a drawback in residential mortgage originations, commercial and multifamily mortgage originations are predicted to grow to $300 billion in 2014, rising 7% from 2013 volumes.
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