Mortgage Jobs, Servicing Grow at Lake Michigan CU

Although quarterly and annual home lending retreated at Lake Michigan Credit Union, the servicing portfolio and mortgage staffing both expanded.

As last year concluded, the Grand Rapids, Michigan-based financial institution serviced 61,290 single-family loans with a collective unpaid principal balance of $9.739 billion.

Lake Michigan provided the data, in addition to other operational metrics, as part of the Mortgage Daily Fourth Quarter 2017 Mortgage Origination Survey.

From:: Financing

Synnex shares fall as earnings outlook misses Street view

Synnex Corp. shares fell in the extended session Thursday after the business process services company’s earnings outlook fell short of Wall Street estimates. Synnex shares fell 8% after hours, following a 3.5% gain to close at $118.40 in the regular session. For the second fiscal quarter, Synnex estimates adjusted earnings of $2.25 to $2.35 a share on revenue of $4.58 billion to $4.78 billion. Analysts expect earnings of $2.41 a share on revenue of $4.75 billion. The company reported fiscal first-quarter net income of $24.4 million, or 61 cents a share, compared with $61.8 million, or $1.54 a share, in the year-ago period. Adjusted earnings were $2.14 a share. Revenue rose to $4.55 billion from $3.52 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.11 a share on revenue of $4.47 billion.

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From:: Stock Market News

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