Items Tagged with 'mortgage origination'

ARTICLES

  • Freddie Mac reveals Loan Advisor upgrades at MBA

    New enhancements designed to give clients the “Freddie Edge”
    Freddie Mac announced major tech upgrades to its Loan Advisor Suite on Monday at the MBA Annual in Washington, D.C. A number of new features – including the industry’s first integrated self-employment income asset solution – are designed to create a more efficient origination process and give clients what Single-Family EVP Dave Lowman calls "The Freddie Edge."
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  • CitiMortgage takes a beating in Q3

    Mortgage originations fall 29% and its mortgage division succumbs to scandal
    Citigroup released its earnings report this morning, and mortgage originations are down. Way down. The bank reported a 29% decrease in originations year over year and an 8% decrease in originations from the second quarter.
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  • The jury is in: This cycle ends in 2020

    Wall Street Journal survey reveals 59% of economists predict a slowdown in 2020
    We have been hearing about this for a while now, but the jury is finally in: Most economists predict this up cycle will end in 2020. America may have less than two fat years to make hay while the sun is still shining on the economy.
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  • Mixed mortgage news: Refis fall to four-year low, but purchases climb sharply

    Total originations actually rise 15% in second quarter
    The signs were all there. It was clear that refinance originations were trending down as interest rates rose, but it’s still striking to see the results in black and white. According to newly released data from ATTOM Data Solutions, refinance originations fell to a four-year low during the second quarter, thanks to increases in interest rates.
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  • Americans now have more debt than ever before

    Mortgage debt hits highest level in 9 years
    Thanks to increases in mortgage, auto loan, and credit card debt, Americans now have more debt than ever. In fact, mortgage debt now rests at $9 trillion. It’s the first time that mortgage debt has reached the $9 trillion threshold since the second quarter of 2009.
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  • Canary in the coal mine? Impac mortgage originations plummet in second quarter

    Originations fall 42% from last year thanks to rising rates
    Mortgage interest rates may have fallen ever so slightly in the last week, but on the whole, they’re on the way up and have been for quite some time. And the rising interest rate environment is hitting one lender quite hard. Impac Mortgage, which also operates CashCall Mortgage, revealed late Wednesday that its mortgage originations plummeted in the second quarter.
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  • Citibank mortgage originations down 16%

    Despite a 13% QoQ increase in originations, the bank is down 16% YoY
    Citibank’s latest earnings release reveals that despite an overall uptick in retail banking, its mortgage originations took a 16% tumble year-over-year in the second quarter. This news comes after the bank’s posturing to re-enter the mortgage space earlier this year with the adoption of a new digital mortgage origination platform through Digital Risk and Black Knight.
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  • Citizens Bank buying Franklin American Mortgage for $511 million

    Citizens claims deal will push bank into nation’s top 15 mortgage companies
    Citizens Bank is about to significantly grow its mortgage business, announcing Thursday that it reached a deal to acquire Franklin American Mortgage Company in a $511 million deal. Citizens said that the deal will triple the size of its off-balance sheet mortgage servicing portfolio and more than double its mortgage origination platform.
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