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Community banks that could reel in cheap deposits while keeping a lid on expenses were able to outperform peers in 2024.
When the largest lender –by far – in a mortgage niche exits the sector it usually signals that trouble is afoot. But according to the head of the National Reverse Mortgage Lenders Association (NRMLA), Wells Fargo’s exit from the reverse business is not a death knell. “The players are shifting in this business,” said NRMLA […]
For 1Q11, U.S. public ABS issuance reached $13.62 billion, according to preliminary figures from the ASR Scorecards database. This is an increase from a year ago when industry volumes reached only $9.4 billion In terms of public lead manager rankings, Bank of America Merrill Lynch took the lead for the first quarter with a market […]
Bank of America Friday morning reported a fourth quarter loss of $5 billion on its residential finance and insurance unit, citing $4.1 billion in representation and warranty costs tied to buybacks from Fannie Mae and Freddie Mac. In the year ago quarter its mortgage loss was $1 billion. In 4Q10 it originated $85 billion of […]
Bank of America Home Loans – the nation’s third largest wholesale lender – said it will cease originating mortgages through loan brokers immediately, calling it a “strategic decision,” allowing the company to focus on retail lending. Any broker-sourced loans already in the pipeline will be honored, a company spokesman told ASR‘s sister publication, National Mortgage […]