Volumes are Booming at Certain Shops

Here’s a taste of a story appearing in the Monday edition of National Mortgage News: Brian Simon, CEO of Caliber Funding, in a recent interview predicted that his company could grow originations by threefold or fourfold in 2012. “We’re starting to do some fairly significant numbers,” Simon said. Part of his optimism stems from Caliber hiring 300 loan officers and support staff from MetLife Home Loans

So, what does Brian’s story tell us about the state of the market? Answer: Hungry lenders—including several nonbanks—have huge growth plans that are built on this premise: Let banks like Ally Financial, Bank of America and Citigroup reduce their presence in the market. We’re ready, willing and able to take their business…

One such firm is Gateway Mortgage Group, Tulsa, Okla., which this week launched a new correspondent lending division that will purchase conforming and government loans from depositories and mortgage bankers, with the aim of retaining the servicing rights. (Story by Brad Finkelstein)…

Last year I wrote several columns about industry “deconsolidation”—that mortgage lending, going forward, will no longer be dominated by five megabanks. It appears that the theory is holding except for one huge exception: Wells Fargo which according to NMN and the Quarterly Data Report now has a 30% market share in originations. Yikes. To see the new 4Q edition of the QDR with our ranking of the top 100 lenders and servicers drop an email to Deartra.Todd@Sourcemedia.com

Wells, by the way, is now the nation’s largest residential servicer. It surpassed B of A in 4Q…

We heard one unconfirmed report that B of A is starting to give more sales leads to its loan officers. This comes despite earlier reports that it’s backed up on refis and divorcing that secondary market jack-booted buyback dominatrix, Fannie Mae. They’ll always have Paris…

Also in Monday’s NMN, Bonnie Sinnock‘s “Street Smarts” column, and Brian Collins‘ story on what the new FHA premium hikes really mean. To subscribe call 800-221-1809

Meanwhile, visits to the NMN website keep rising. For advertising opportunities contact Steven.Schloss@SourceMedia.com. Steve was recently in Rome, watching the Cardinals play spring ball…

“There are no second acts in American life,” F. Scott Fitzgerald once wrote. But F. Scott never worked in mortgage banking. It appears that PennyMac and Stan Kurland are doing just fine. See an upcoming story on the NMN website by Kate Berry early next week…

In other literary matters related to mortgage banking, my favorite headline of the week was a story entitled, “Fannie Mae: The Woman in the Dunes.” It was a daily “What We’re Hearing” article. See the story at: http://www.originationnews.com/blogs/hearing/fannie-mae-earnings-1029145-1.html…

MORTGAGE TECHNOLOGY NEWS: For the first time in more than 20 years, market research and analytics firm Mortech LLC did not conduct its annual lender survey and will not publish its mortgage industry trends and analytical report. See Austin Kilgore‘s exclusive report on the NMN website.

LOAN PRODUCT UPDATES: If you bring a $25,000 savings account to them Citigroup will give you a 25 basis point discount on a HELOC, a 0.375% break on your mortgage rate, plus $2,500 off on closing costs for your loan.

MORTGAGE PEOPLE: Karyn Treble Wilson has joined PrimeLending, a Plains Capital company. During her career, Karen has worked for several lenders, including Bank of America and James Madison Mortgage. This past week Altisource chief financial officer Robert D. Stiles resigned.

LOAN OFFICERS, BRAG A LITTLE: NMN and its sister publication Origination News, the most widely led news magazine in the broker/correspondent sector, has launched its annual loan officer survey. Eventually, we’ll publish features and rankings on the nation’s top LOs. To participate in our survey visit http://originationnews.com/losurvey.

DATA STUFF: If you need a list of the nation’s top 100 retail lenders drop an email to Deartra.Todd@SourceMedia.com and ask about our Quarterly Data Report. It’s a 50-page Excel spreadsheet. Also check out our exclusive mortgage data website: MortgageStats.com.

MUST ATTEND MORTGAGE SHOWS: From April 17-19 National Mortgage News and SourceMedia will hold their annual Mortgage Servicing Conference at the Omni Mandalay Hotel in Irving, Texas. For more information see the ads on our website or email Julie.Dienes@SourceMedia.com or click here http://www.nationalmortgagenews.com/conferences/ms/.

I’m on Twitter, discussing mortgage matters and my conversion to a Washington Nationals fan. I will always have 1969 and 1986.

LAST WORD: If only Rick Santorum could talk my kid out of going to college!

Article source: http://www.nationalmortgagenews.com/blogs/hearing/volumes-booming-certain-shops-1029171-1.html

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