Monday, July 2, 2012

Profit Per Loan Up Dramatically; Stevens to Stay at MBA

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Jul 2, 2012 11:51AM

Profit Per Loan Up Dramatically - Mortgage Banks Focused on Purchase Biz; LO's Not Exempt from OT?

On July 4th in 1776, the Declaration of Independence was approved by the Continental Congress, setting the 13 colonies on the road to freedom as a sovereign nation. (This year it has turned tomorrow into somewhat of a "get away" day for many.) As always, parades, fireworks and backyard barbecues await. It is estimated by the Census that there were 2.5 million people living in the nation at that point, and now there are 314 million . Check this out, for some non-mortgage news: Reuters reports that...

Jul 2, 2012 10:29AM

David H. Stevens Staying at MBA

Slightly more than a month after it confirmed he was leaving his post as President and CEO, the Mortgage Bankers Association ( MBA ) announced that David H. Stevens would remain at the head of the trade association. Steven's resignation and appointment as president of Sun Trust Mortgage was announced by both MBA and the parent company of his new employer, Sun Trust Bank, on May 30. The announcement came almost simultaneous with Steven's first year anniversary with MBA. In a statement released this...


Micro News

3:54 PM:

Falling Into Slightly Weaker Territory After The Treasury Close

3:02 PM:

MBS Continue Holding Gains In Quiet Afternoon

10:34 AM:

Bond Markets Pop Higher On ISM Data

10:10 AM:

ECON: Construction Spending In May Highest Since Dec 2009

10:08 AM:

ECON: ISM Manufacturing Signals First Contraction Since July 2009

9:47 AM:

David H. Stevens to Stay at MBA

9:04 AM:

ECON: Markit Manufacturing PMI Weakest Since December 2010

8:43 AM:

Bond Markets Begin Week Stronger, Reinforcing Same Old Range

Around the Web

Video News

Housing Rebound or Relapse?

Santelli: Less ISM Equals Less Optimism

Santelli's Morning Bond Update


Today's Comments

David Gostovich

"Pre – Pre ; How about now, this Fannie MAE / HomePath scam is going to kill the market yet again."

Ted Rood

"Now all we need is for this to happen about 100 more times, and have agents, developers, title companies, and builders involved be prosecuted as well...."

Jason Harris

"I hear more about money at home in the safe that one ever should....must be something in the water around here but seems like everybody has a few thousand..."

Today's Q&A

"VA Hybrid arm loan 3/1"

"Can a Mortgage lender collect on 10 Year old late fees?"

"Relocation for career and documentation"