Foreclosures | Mortgages | Financing
EverBank Financial Corp., which has its roots in the mortgage industry, has disclosed that it is negotiating to be acquired by a financial services company.
The most-recent iteration of the Jacksonville, Florida-based bank-holding company was created in 1994, when it began operating as Alliance Mortgage.
Then, in 2002, Alliance Mortgage acquired the everbank.com domain name and subsequently changed the name of the parent company to EverBank.
From:: Financing
Agency-backed residential loans that were previously modified have been sold at auction and are headed for securitization.
A binding commitment has been reached to sell 846 Freddie Mac loans with an aggregate principal balance of $198,900,000.
The mortgages were originally closed as option adjustable-rate mortgages. However, the loans were subsequently modified.
From:: Financing
The annual rate of new residential property sales last month climbed to the highest level in more than eight years, with the West leading the way.
New U.S. houses sold during June preliminarily numbered 54,000. The total was the same as the upwardly revised figure for the prior month.
But new home sales have accelerated compared to the same month last year, when there were an downwardly revised 44,000 new houses sold.
From:: Financing
As residential loan performance continues to improve, Ditech Financial LLC has decided to reduce its mortgage servicing staff in the South.
The subsidiary of Walter Mortgage Investment Management Corp. plans to make the job cuts at a location in Greensboro, North Carolina.
In all, there were 65 employees who were advised on Friday about their impending layoffs, which are scheduled to take place on Sept. 21.
From:: Financing
Flagstar Bancorp Inc. saw a quarter-over-quarter rise in home lending, and indicators point to continued gains. The mortgage servicing portfolio also increased.
From April 1 through June 30 of this year, the financial institution closed 31 percent more in residential loans than was funded during the first quarter.
This information, along with other operational and financial results, was published in the Troy, Michigan-based company’s second-quarter 2016 earnings report.
From:: Financing
While there have recently been some C-Suite changes in real estate finance, there have been several mid-level mortgage executives who have either been promoted or recruited to fill vacancies.
On July 14, Capstead Mortgage Corp. announced that Phillip A. Reinsch was named president and chief executive officer. He replaces Andrew F. Jacobs, who resigned and left the board of directors.
Reinsch has been with the Dallas-based organization since 1993, most recently as treasurer since 2015. He reportedly is a certified public accountant who previously worked for Ernst & Young LLP.
From:: Financing
Quarterly home lending activity soared by nearly two-thirds from the prior period at Fairway Independent Mortgage Corp. In addition, the size of the staff expanded.
Residential loan originations totaled 64 percent more during the three months that ended on June 30 of this year than during the prior three-month period.
The latest details were provided by the Sun Prairie, Wisconsin-based company as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.
From:: Financing
A small portfolio of mortgage servicing rights on agency residential loans has been acquired by a small bank out of the South.
The acquisition involves MSRs on 452 Fannie Mae and Freddie Mac home loans with an aggregate principal balance of $85 million.
Properties that secure the mortgages are all located in North Carolina, and all of the loans have been described as “high quality.”
From:: Financing
A Texas mortgage banking firm has made it to the three-decade mark thanks to the successful partnership of the husband-wife team that founded and runs the company.
Back in 1986, Royce and Linda Lewis were working for Texas Bank. They had just married, and the Lubbock, Texas, financial institution failed not long after.
So the pair decided that they would use their banking background to start Capital Mortgage Services. Initially, the new business originated loans as a mortgage broker.
From:: Financing
Quarterly hirings in the Motor City helped Michigan secure the biggest gains in mortgage employment, while the nation’s biggest home lender was behind the state with the most mortgage job losses.
As of March 31 of this year, there were an estimated 624,800 people who were employed in the mortgage industry.
The total is based on a Mortgage Daily analysis of origination market share data and data reported by the Bureau of Labor Statistics.
From:: Financing