Despite advances in mortgage technology, J.D. Power has found that customers are more satisfied with one-on-one interactions in lieu of an all-digital approach.
Read More »Tony Meola Joins Veptas Board
As a Board member of Veptas Inc. the mortgage industry veteran will also focus on developing strategic relationships for its technologies and services.
Read More »Financials Take a Broad Hit
Wells Fargo, JPMorgan Chase, and Citigroup reported their second quarter earnings on Friday morning. Read on to see their figures and exactly how the market reacted.
Read More »Gus Faucher Named PNC Chief Economist
The PNC Financial Services Group, Inc., announced on Wednesday that Augustine (Gus) Faucher will assume responsibility as Chief Economist effective immediately. Faucher succeeds Stuart G. Hoffman, who had served PNC as Chief Economist for 37 years.
Read More »A Mixed Bag of Profitability and Mortgage Income
Bank of America, JPMorgan Chase, PNC, and Wells Fargo posted solid revenues to end 2016, though net income was down for two of them, according to the banks' latest earnings reports. How did mortgage income fare at these institutions?
Read More »Banks Report Solid Mortgage Activity in Q2
As demand for mortgage loans rises and underwriting standards slowly ease, many banks reported increasing mortgage activity in their Q2 earnings reports.
Read More »Bank of America’s Net Income More Than Doubles in Q2; U.S. Bank, PNC Profitable
Bank of America's number of 60-plus days delinquent first mortgage loans serviced by Legacy Assets and Servicing fell to 132,000 in Q2, a year-over-year decline of 50 percent, while adjusted net charge-offs also declined year-over-year by 26 percent down to $929 million
Read More »Mortgage Collectors Silence Homeowners with ‘Gag Orders’
A curious piece of text is appearing in some homeowner's loan modification agreements—by accepting a modification from a bank or non-bank servicer, the homeowner agrees to never publicly say, write, or post anything negative about the company doing the modification. Originally in a report from Reuters, Ocwen, Bank of America, and PNC Financial Services Group are adding new terms to their modification contracts to prevent homeowners from publicly disparaging the companies.
Read More »PNC Reports Q1 Income of $1.1 Billion
PNC Financial Services Group released its quarterly earnings, reporting a net income of $1.1 billion, or $1.82 per diluted common share. While net income was positive, it didn't reach as high as the fourth quarter of 2013, when net income was $1.1 billion or $1.87 per diluted common share.
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