by mdibrino@hqmloans.com | May 8, 2023 | Uncategorized
Read next: CEO reveals why mortgage stocks are struggling after IPO boom The company generated a $68.9 million profit in the first quarter, down from $81.8 million in the prior quarter. Its origination and servicing segments posted a combined pre-tax income of $164...
by mdibrino@hqmloans.com | May 5, 2023 | Uncategorized
The US labor market continues to tick along at a healthy pace, adding over a quarter of a million jobs in April despite turmoil in the banking sector and further efforts by the Federal Reserve to slow the economy. The Labor Department said on Friday that over 253,000...
by mdibrino@hqmloans.com | May 5, 2023 | Uncategorized
Once situated, he began to notice something peculiar: Loan originators focused on the border, ready to deploy to Mexico to close deals under the auspices of two different companies – their US-based firm and the one for which they were licensed in Mexico. Achieving his...
by mdibrino@hqmloans.com | May 5, 2023 | Uncategorized
Rocket Mortgage posted $17 billion in closed origination loan volume. Gain on sale margin was 2.39%. The company’s total liquidity was $8.1 billion, including $0.9 billion cash-on-hand, $2.4 billion of corporate cash used to self-fund loan originations, $3.1...
by mdibrino@hqmloans.com | May 5, 2023 | Uncategorized
The Fed raised its benchmark rate by 25 basis points to the highest level in 16 years. This puts the Fed’s interest rate between 5% and 5.25%. But the hike is expected to be the last, or at least for a while, according to Greg McBride, chief financial analyst at...
by mdibrino@hqmloans.com | May 5, 2023 | Uncategorized
Meanwhile, 3% of mortgaged homes, or one in three, were considered seriously underwater in the first quarter. That figure was almost unchanged from 2.9% in the previous quarter and down from 3.2% in the same period a year ago. “Homeowners across the US continue...
