"While this was an extremely difficult decision to make, we intend to build on our leadership position in the correspondent market and remain committed to purchasing loans from smaller financial institutions and independent mortgage companies," mortgage head says in letter.
These risks are real. For example, even if interest rates were to fall, mortgage originations may also fall. Any increase in mortgage originations may not be enough to offset the decrease in the MSRs value caused by the lower rates, the bank states.
The Federal Deposit Insurance Corp. continued its recent "freaky Friday" streak last week, stepping in at Bradenton, Fla-based Freedom Bank, after the Commissioner of the Florida Office of Financial Regulation closed the bank on Friday after market close. All deposits of the failed bank will head over to Grand Rapids, Mich.-based Fifth Third Bank, the FDIC said.
Mere stats don't tell the real story of these outstanding leaders. They represent the whole spectrum of the housing economy, from real estate agents to originators to nonprofits. They lead companies, mentor others and give back to their communities. Read on to find out how each one is inspiring..
HousingWire covered the introduction of Costco into the mortgage lending space and it made the industry nervous. Lenders openly asked each other at conferences, “Who will be next? Google, Apple?” Well, that never happened. Here's the story why, in long-form feature. Read More
From both an operational and regulatory standpoint, the industry continues to progress as new technological advancements are made and new regulations and policies are implemented. While it is important to change with the times, it is equally important to define and maintain the very essence of your company’s own core vision and values, so that you can succeed regardless of the inevitable changes the industry will undergo. Read More