One popular refrain in the mortgage industry is that rates take the escalator on the way up and the stairs on the way down. Yesterday was definitely an “escalator” sort of day with the average lender moving up 0.12% for a top-tier 30yr fixed rate. Based on improvement in the bond market, rates are lower […]
Mortgage Rates Edge Just Barely Lower Read More »
Higher pretax income from its originations business in the first quarter versus comparative period was offset by lower earnings related to servicing for PennyMac Financial Services. Processing Content The company reported net income of $82.3 million for the first quarter. This compared with $106.8 million for the fourth quarter and $76.3 million for the first
PennyMac 1Q profit falls as servicing drags on results Read More »
Loandepot slipped deeper into the red to start the year as executives blamed the firm’s performance on market volatility and tighter margins from the product mix shift over the winter. Processing Content The lender and servicer Tuesday posted a $54.9 million net loss for the first quarter, widening losses of $32.8 million and $40.7 million
Loandepot blames Q1 loss on market volatility, product mix Read More »