Articles Tagged with ''mortgage lending''

Wells Fargo mortgage originations tumble amid rising interest rates

Mortgage banking income on the rise, despite declining originations
As interest rates have risen over the last several months, mortgage originations appear to be trending down, especially in the refinance space. Wells Fargo reported Friday that it originated $46 billion in mortgages in the third quarter, which is down 22% from last year’s total of $59 billion during the same time period.
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WSJ: Lennar in talks to sell Rialto Capital to StonePoint Capital

The largest homebuilder in the U.S. is looking to offload noncore assets
Lennar is in advanced talks to sell its real-estate lending arm Rialto Capital to StonePoint Capital. According to the Wall Street Journal, the largest homebuilder in the U.S. is trying to shed weight in the face of headwinds dragging on the housing market’s performance.
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Movement Mortgage to lay off 180 employees

Company cites slowing loan growth
For the third time this year, Movement Mortgage is cutting its workforce. Movement announced Thursday that it is laying off 180 of its employees on Friday. In a note from CEO Casey Crawford released Thursday afternoon, the CEO explained that the lender is making this decision “in response to a nationwide downturn in the housing and mortgage market.”
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