nationalmortgage

Warehouse

• RE/MAX: July Home Sales Way Down

  National Mortgage News | August 19

  Residential home sales plummeted 30% in July from June, according to the RE/MAX National Housing Report, which provides an early reading of actual closings.

• Table Funders Get Caught in Compensation Rule

  National Mortgage News | August 18

  Small banks and credit unions that rely on table funding to originate mortgages will be treated just like "mortgage brokers" under the new compensation rule issued by the Federal Reserve Board.

• Fed Issues Loan Officer Compensation Rule

  National Mortgage News | August 16

  In a surprise move, the Federal Reserve Board has issued a final rule that imposes restrictions on loan officer and mortgage broker compensation that is very similar to compensation language in the recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act.

• Texas Bank Commits $100MM to Warehouse

  National Mortgage News | August 9

  NexBank of Dallas has launched a warehouse lending division, offering lines of credit of up to $10 million to nondepositories.

• Residential Mortgage Profitability Plunges 40% in 1Q

  National Mortgage News | July 20

  Even though mortgage bankers are still enjoying the steepest yield curve in years, lenders saw their average profit per loan fall to $606 in the first quarter, a 40% drop from the same period last year, according to new figures released by the Mortgage Bankers Association.

• Warehouse Conditions Improve, but It's Still a Lender's Market

  National Mortgage News | July 12

  The number of warehouse providers willing to extend credit to nonbanks has doubled in the past year, according to warehouse consultant Michele Perrin.