Q2 Mortgage Banking Profits Surge, Short Sales Take Bigger Share

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Aug 30, 2012 11:50AM Q2 Mortgage Banking Profits Surge, Highest Since Report Began in 2008 Mortgage bankers saw their profits surge during the second quarter of 2012, increasing from 272919,654 on each loan originated in the first quarter of the year to headline,152. The information comes from the Mortgage Bankers Association's (MBA) Quarterly Mortgage Bankers Performance Report which covers data from 305 independent mortgage banks and mortgage subsidiaries of chartered banks. Ninety-five percent of the firms posted pre-tax net financial profits in the second quarter of 2012, compared to 93 percent... Aug 30, 2012 8:35AM Short Sales Take Growing Share of Distressed Sales Foreclosed and pre-foreclosed homes maintained their position as the source of over a fifth of U.S. home sales in the second quarter of 2012. Twenty-three percent of all residential sales during the period were of bank-owned properties (REO) or homes in some stage of foreclosure, up from 22 percent in the first quarter of the year and 19 percent in the second quarter of 2011. RealtyTrac, an Irvine, California firm that tracks foreclosure activity, reported that an additional 14 percent of all sales... Mortgage Rates Recover Most Of Yesterday's Losses Ahead Of Bernanke Speech MBS RECAP: More Sideways! But Heading Into Friday Closer To Highs Commercial, Multi-family Delinquency Rates Remain Elevated MBS MID-DAY: Improvements Stall At Logical Resistance Targets Dodd Frank Diversity Requirements; Updates on TARP and Shadow Inventory The Day Ahead: Still Sideways Ahead Of More Important Events View: Front Page | Headline Viewer Micro News 3:48 PM: Late Day, Light Liquidity. MBS At Lowest Levels Since 9am 2:59 PM: ECB to oversee all euro zone banks - report 1:10 PM: 7yr Auction On The Screws, First Reaction Is No Reaction 9:09 AM: Slightly Stronger To Open, Slightly Stronger After Data 8:48 AM: ECON: Jobless Claims Remain Unchanged At 374k 8:44 AM: ECON: Incomes and Outlays Both Exactly As Expected 2:07 PM: Beige Book Offers No New Insights For Upcoming Fed Meeting 1:14 PM: 5yr Auction Produces Average Stats, And Little Reaction In Bond Markets »View All Micro News Around the Web "Qualified Residential Mortgages" -- the Negative Impact of a Government-Mandated 10 Percent Down Payment ECB's Asmussen: IMF must be involved in conditions for new bond buys Housing Isn't Much Attention In Presidential Campaign So Far Spain Said to Speed EU Bank Bailout on Collateral Limits - Bloomberg Chances of Fed QE3 dims for investors and economists Will Investors Be Jaundiced After Jackson Hole? »View More Around the Web Video News How Foreclosures Are Impacting Voters Buzz Ahead of Bernanke Don't Expect QE3, Watch Europe: Larry McDonald »View More Video News Today's Comments "I am all for charity and helping others. But to foreclose on someone and then give it away just seems odd. Hopefully the homes they are giving away were..." "all we have to do is find 1000 more companies like AIG to bailout and we could pay off the national debt." "Well, there should be some consequences if you dump the deficiency on the lender. If you sign a promissory note and did not skip mortgage payments, they..." »View More Comments Today's Q&A "Poll: How do you feel about mobile advertising?:)" "Where you can purchase inexpensive coins?" "if someone signs a quit deed release on property what rights do they have" »View More Q&A jeffer90576 Profile View Edit Market Data Mortgage Rates 30YR 3.62 0.00 15YR 2.91 0.00 FHA30YR 3.51 0.00 Jumbo30YR 4.17 0.00 5/1ARM 3.00 0.00 MBS Quotes 30YR FNMA 3 105-21 0-07 30YR FNMA 4 106-31 0-04 30YR FNMA 4 108-03 0-03 30YR FNMA 5 109-04 0-04 Treasuries 2 YR 0.2578 -0.0152 3 YR 0.3404 -0.0216 5 YR 0.6632 -0.0148 7 YR 1.0677 -0.0283 10 YR 1.6250 -0.0270 30 YR 2.7454 -0.0206 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Pending Home 2.42% Mortgage Application -4.29% Mortgage Refinance -5.72% Mortgage Purchase 1.41% S&P/Case Shiller 0.94% New Home Sales 3.62% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2012 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031