Category: Top National News

Mortgage Daily, Oct. 19, 2017Princeton Mortgage Corp., a mortgage banking firm, will open a wholesale division in Pittsburgh.

Mortgge Daily, Oct. 19, 2017In BB&T’s mortgage banking business, pre-tax income plunged to $107 million from $212 million in the third-quarter 2016, though the segment improved from $73 million earned in the second quarter of this year.

National Mortgage Professional, Oct. 19, 2017–Phil HallThe multifamily lending sector ended 2016 on an eight percent year-over-year increase, setting a new peak with nearly 3,000 different lenders originating $269.2 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association.

CNBC, Oct. 18, 2017–Diana OlickJust a slight drop in interest rates pushed refinance applications higher after they had fallen for the last month. That helped increase total mortgage application volume 3.6 percent for the week, according to the Mortgage Bankers Association.

Washington Post, Oct. 18, 2017–Kenneth Harney A recent legal settlement between the federal government and a title insurance agency is drawing fresh attention to one of the murkiest, least understood and costly items you get charged for in a real estate closing: title insurance.

Milwaukee Journal-Sentinel, Oct. 18, 2017–Paul GoresThird-quarter profits more than doubled for MGIC Investment Corp. as mortgage delinquencies continued to decline and the quarterly results comparison benefited from a one-time loss in last year’s third period.

Mortgage Professional America, Oct. 18, 2017–Francis MonfortMortgages are the leading source of complaints to the Consumer Financial Protection Bureau among consumers 62 years old and older, according to a report by the US Public Interest Research Group and the Frontier Group.

Wall Street Journal, Oct. 18, 2017–Robyn A. Friedman (subscription)Some mortgage servicers have a bad reputation for service: In a survey released earlier this year, unhappy mortgage customers said their servicers were more focused on profit than on their customers.

Mortgage Daily, Oct. 18, 2017While quarterly mortgage earnings and originations held up from the prior period at U.S. Bancorp, both retreated from a year ago. Residential holdings expanded, though.

HousingWire, Oct. 18, 2017–Ben LaneIn a release, the company says that the moves are designed to “reposition the segment for sustained profitability by focusing on the core products and services that Radian believes have higher growth potential, produce more predictable and recurring fee-based revenues, and better align with customer needs.”