Tag: finance

An increase in residential lending at Primary Residential Mortgage Inc. was accompanied by more loans added to its mortgage servicing portfolio and more employees added to its staff.

There were 45 percent more in home loans closed during the three months that ended on June 30 of this year than were originated during the previous three-month period.

The Salt Lake City-based organization reported the data, in addition to other operational metrics, as part of the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.

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From:: Financing

Quarterly home lending climbed by more than a third at Stearns Lending Inc., while the mortgage servicing portfolio increased and staffing expanded.

Residential loan production at Stearns from April 1 through June 30 of this year came to 34 percent more than during the first-three months of 2016.

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

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From:: Financing

As mortgage rates ascended for the second straight week, new mortgage activity declined — with refinance business taking a bigger hit than purchase financing.

The U.S. Mortgage Market Index from Mortgage Daily, a reflection of average per-user rate locks by OpenClose clients, landed at 177 in the week ended July 22.

Compared to the 15-month high reached a week earlier, the index retreated 16 percent. However, on a year-over-year basis, the index moved higher by nearly a quarter.

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From:: Financing

On point with top mortgage lending peers, SunTrust Banks Inc.’s quarterly production picked up speed. It also saw its servicing and investment portfolios grow.

From April 1 through the end of last month, SunTrust saw a nearly one-half increase in residential loan originations from what it originated in the first quarter.

The Atlanta-based financial institution provided this information, along with other operational and financial details, in its second-quarter 2016 earnings report.

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From:: Financing

A modest rise was recorded for mortgage rates this week, and several indicators suggest that they aren’t likely to change over the next week.

Thirty-year interest rates on residential loans that were closed during June averaged 4.8 percent, 30 basis points worse than a month earlier.

Average 30-year rates, which were the highest they’ve been since February, were down, however, from 4.9 percent as of 12 months earlier.

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From:: Financing

Existing home sales improved last month, with the Midwest seeing the biggest month-over-month rise. But a key economist questions the ongoing viability of gains.

Last month, there were 583,000 existing home sales. The total reflects completed transactions on single-family homes, townhomes, condominiums and co-ops.

The sale of pre-owned U.S. residential properties, which exceeded any month during this year or last year, was up from a downwardly revised 525,000 in May 2016.

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From:: Financing

Quarterly home lending grew stronger at Huntington Bancshares Inc., while a quarter-over-quarter gain was recorded for mortgage earnings. The servicing portfolio, though, fell.

During the second quarter of this year, residential loan originations at the financial institution totaled 71 percent more than was originated during the previous three-month period.

Those details, along with other operational and financial performance metrics, were outlined by the Columbus, Ohio-based company in its second-quarter 2016 earnings report.

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From:: Financing

Residential loan originations improved from the prior and year-earlier quarters at Citizens Financial Group Inc. and could ascend even higher.

In the three months that ended on June 30, home-lending activity moved 42 percent higher compared to the first quarter of this year.

That was according to the Providence, Rhode Island-based financial institution’s second-quarter 2016 earnings report released on Thursday.

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From:: Financing

Quarterly mortgage originations surged at BB&T Corp. In addition, the residential servicing and investment portfolios grew, quarterly earnings improved, and staff ranks swelled.

From April 1 to June 30, the financial institution closed 56 percent more in new home loans than was originated during the first three months of this year.

This information, along with other operational and financial statistics, was unveiled in the Winston-Salem, North Carolina-based company’s second-quarter 2016 earnings report.

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From:: Financing

Mortgage banking economists now expect nearly $80 billion more in residential loan originations for all of this year than they forecasted just a month ago.

Home-lending is projected to reach $518 billion in the third quarter then fall to $363 billion three months later and $295 billion in the first-quarter 2017.

The outlook increased from June, when volume was expected to go from $460 billion this quarter to $343 billion in the fourth quarter then fall to $295 billion.

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From:: Financing