Mortgage originators’ profits remained strong in the fourth quarter of 2020, although they were down considerably from the previous period. The Mortgage Bankers Association’s (MBA’s) Mortgage Bankers Performance Report says that independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net gain of $ 3,738 on each loan they originated during the […]
Next Week Could be Crazy (Obviously); Fannie/Freddie Report Higher Profits; Forbearances Increasing or Just Reinstating?
Both GSEs reported financial results for the third quarter of 2020 that were significantly higher than both their Q2 2020 and their 2019 numbers . Fannie Mae’s net and its comprehensive incomes were $ 4.2 billion and Freddie Mac’s net and comprehensive incomes came in at $ 2.5 billion and $ 2.4 billion, respectively. Fannie […]
One out of every 15 home sales in the second quarter of the year were defined as “flips” by ATTOM Data Solutions. A flip is any arms-length transaction that occurred in the quarter where a previous arms-length transaction on the same property had occurred within the last 12 months. ATTOM’s second quarter report on flipping […]