National M.I. Swings to Profit as Business Rises

National Mortgage Insurance Corp. lifted grew its quarterly business and grew its book of business, while its parent company swung to a profit.

During the three-month period that came to a close on June 30, 2016, income before income taxes at the mortgage insurer came in at $2 million.

Details about the Emeryville, California-based organization’s results were included in parent NMI Holdings Inc.’s second-quarter earnings report.


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From:: Financing

Genworth MI Biz, Delinquency and Earnings Improve

A year-over-year improvement in earnings, new insurance written and delinquency was reported for Genworth Mortgage Insurance Corp.

During the three months ended June 30, parent Genworth Financial Inc. earned $351 million from continuing operations before income taxes.

Those details, along with other operational and financial data, were presented in the Richmond, Virginia-based firm’s second-quarter earnings report.


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From:: Financing

Nationstar Lending Up, MSR Valuations Hurt Income

Home-lending activity increased at Nationstar Mortgage LLC, though fair-value adjustments to mortgage servicing rights cut deep into earnings.

Prior to income tax expense, the mortgage lender suffered a $144 million loss from the period that started on April 1 and concluded on June 30.

The Dallas-based financial services firm delivered the data, along with other operational and financial metrics, in its second-quarter earnings report.


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From:: Financing

Home Loan Applications Decline 3rd Straight Week

For each of the past three weeks, loan applications to purchase or refinance a home have dropped. Government-insured share has diminished.

During the seven-day period that ended on July 29, applications for new residential loans were down by 4 percent compared to a week earlier.

That was based on the Market Composite Index — a measure of mortgage loan application volume that covers 75 percent of all retail applications.


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From:: Financing

Guild Mortgage’s Biz Up by Half, Staffing Surges

Quarterly home lending activity at Guild Mortgage Co. was up by half from the prior period, while staffing expanded by 500 employees, and the servicing portfolio grew.

During the second quarter of this year, Guild Mortgage funded 50 percent more in residential loans than it did during the previous three-month period.

The San Diego-based company provided the operational data, as well as other metrics, for the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.


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From:: Financing

Wave of Maturing CMBS Loans Defaulting

For the fifth consecutive month, securitized commercial real estate loan performance has worsened thanks to a wave of maturing loans.

Thirty-day delinquency on loans that are included in commercial mortgage-backed securities increased 16 basis point during July.

The 30-day delinquency rate on securitized commercial mortgages has now moved higher every single month since February of this year.


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From:: Financing

Originations, Staff Up at Prosperity Home Mortgage

A more than three-quarters increase in loan production was recorded for Prosperity Home Mortgage LLC. The size of the company’s staff also rose.

From April 1 until June 30, home-lending volume at the Chantilly, Virginia-based firm worked out to 76 percent more than in the prior three-month period.

The operational data, along with other metrics, were divulged as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.


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From:: Financing

CRE Credit Stds Tighten as Residential Demand Up

Banks that make commercial real estate loans are reporting that credit standards have recently tightened. Meanwhile, demand for residential loans has risen across the board.

For home-purchase loans eligible for acquisition by Fannie Mae and Freddie Mac, 15 percent of large banks noted credit standards eased in the three most-recent three months.

At the same time, stronger demand on government-sponsored enterprise mortgages was indicated by exactly half of all banks compared to the previous three-month period.


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From:: Financing

Moderate Gain in Home Lending at Quicken Loans

Modest quarter-over-quarter and year-over-year increases were made in mortgage originations at Quicken Loans Inc. as servicing climbed.

During the three months that ended at the mid-point of this year, residential loan production came to 18 percent more than in the first quarter.

The Detroit-based lender disclosed the latest numbers as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.


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From:: Financing

Nearly 2-Year Low for HECM Originations

Last month turned out to be the slowest month in nearly two years for the origination of government-insured reverse mortgages.

For all of July 2016, there were 3,534 home-equity conversion mortgages that were endorsed by the Federal Housing Administration.

That turned out to be the slowest month for HECM originators since August 2014, when FHA endorsed just 3,256 HECMs.


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From:: Financing