Items Tagged with 'mortgage origination'

ARTICLES

  • 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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  • Ocwen loses more than $100 million for 4th straight year

    2017 loss of $128.5 million is $70.9 million improvement over 2016
    Just as the company predicted one year ago, Ocwen Financial suffered another year deep in the red in 2017, posting its fourth straight yearly loss of more than $100 million. But, at least Ocwen’s net losses are trending in the right direction.
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  • Better Mortgage becomes billion-dollar originator

    Saw 400% year-over-year increase in users
    Online lender Better Mortgage, which launched in January 2016, recently surpassed $1 billion in mortgage originations. According to data provided by the company, Better Mortgage claims it was the third fastest online lender to reach $1 billion in originations, trailing only Goldman Sachs’ Marcus and SoFi.
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  • Ocwen moves closer to profitability amid extensive business changes

    Posts net loss of $6 million in third quarter
    It’s been a rough year for Ocwen Financial, but the company’s executives said Thursday that despite the nonbank posting its 4th straight quarterly loss, they believe they have the company pointed in the right direction. Here's why Ocwen is positive about its future.
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