Tag: Mortgage

2Q 2016 Bank Mortgage Update

2Q 2016 Bank Mortgage Update

As we see second quarter earnings, mortgage production has been strong and in some cases, at record levels at some institutions. Total originations were up about 32% from 1Q, a trend that should slow with the recent increase in rates, but still be an increase for 3Q.

 

 

Here is a breakdown to help banks put their mortgage production in perspective and to help value servicing rights:

 

Three Questions With Joe On The Bank Mortgage Business

Mortgage Banking

Yesterday we had a chance to interview Joe Garrett, a former successful community bank CEO, active bank investor, current bank director and partner in Garrett, McAuley & Co., a firm specializing in advising banks on how to improve their mortgage business.  Joe is not only an expert in bank mortgage operations but one of the sharpest wits around with a near-photographic memory when it comes to politics and baseball.  We sat down with Joe and asked him the top three questions that have been on our mind.

The Latest Mortgage Economics And Strategy

Bank Mortgage Business Economics

It is hard to find a better time not to be in mortgages. If you are a bank, you have some advantages given a lower cost of funds and the ability to cross-sell. However, if you are an independent lender, current signals mean you need to further take capacity out of your system to reduce costs. No matter what your organization, current mortgage economics are eye-opening. Recent data released by the Mortgage Bankers Association (MBA) showed that the average independent lender spent 8 cents for every $100 of principal originated - the worst performance quarter since 2008.

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