US Foreclosure Activity Doubles Annually. However, Experts Say foreclosures Are Still Below Pre-Pandemic Levels Real estate data collector ATTOM is reporting that US foreclosure is doubling annually. ATTOM’s Year-End 2022 U.S. Foreclosure Market Report includes foreclosure filings and default notices. It also includes scheduled auctions and bank repossessions. The report states there were 324,237 U.S. […]
New York Community Bank Says It Will Eliminate 69% Of It’s Mortgage Lending Offices After Merger With Flagstar Bank New York Community Bank announced Tuesday it is “restructuring” its mortgage operations. Insiders translate that as the bank closing over two-thirds of it’s mortgage lending offices. The also announcement comes after NYCB completed it’s merger with […]
First Internet Bank Decides To Close It’s Consumer Mortgage Business After Facing Steep Declines In Origination Volume First Internet Bank is shutting down its consumer mortgage business. The Indiana based lender claims its due to a steep decline in mortgage volumes. The company also said the negative outlook for mortgage lending also contributed to the decision. First […]
Flagstar Bank Pulls Plug On Retail Mortgage Lending. The Michigan-Based Bank Lays Off Hundreds Of Employees Flagstar Bank employees posted on social media that the bank has pulled the plug on mortgage lending. The bank also fired or laid off hundreds of employees. Flagstar’s move comes nearly two months after receiving the Fed approved a […]
Is Dan Gilbert Selling Rocket Mortgage Amid Plummeting Originations, Layoffs And Talks Of “Industry Consolidations”? There is no doubt that the past year was horrible for Dan Gilbert and Rocket Mortgage. The company saw profits plummet faster than contestants on a Japanese game show. So, is Dan Gilbert selling Rocket Mortgage? Seriously, Rocket Mortgage has […]
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