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Tag Archives: origination

Credit Union Lending Jumps in Q1 2014

Credit Unions continued to grow during the first quarter of 2014, although higher interest rates slowed mortgage originations, according to the National Credit Union Administration (NCUA). The group found that total first mortgage real estate loans reached $272.6 billion, up 9.7 percent from Q1 2013.

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Special Servicers Benefit from HARP; Future Uncertain

Three special servicers released their fourth quarter and year-end numbers, noting increases in revenue and increasingly active originations sectors. However, analysts remain concerned that the increased revenue, largely derived from government programs such as HARP, will stall as refinances slow down.

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Bank of America to Cut More Mortgage Jobs

Bank of America, the second-largest U.S. lender, is cutting 450 mortgage jobs from its West Coast Offices. The lending giant is reducing staff after new loans fell short of internal forecasts. In a report by Bloomberg, affected employees were told yesterday that workers involved in processing home loans would be let go.

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Norcom Mortgage Announces New Branch; Branch Manager

Norcom Mortgage announced the opening of their Brookfield, Connecticut branch. The branch will be headed by James Forte, serving as Branch Manager. “We could not be more excited to have James lead this branch and expand our service into the Western part of the state."

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