Illinois industry appointments update - 08/02/2006

Aug 02, 2006

Chase Correspondent Lending to implement imaged file deliveryMortgagePress.comImaged mortgage file delivery, Chase Correspondent Lending Chase Correspondent Lending has announced that beginning in September, it will accept indexed imaged loan files via secure delivery methods. The initial program phase will simplify the loan delivery process for customers who can deliver imaged loan files indexed to Chase standards. In subsequent phases planned for implementation later this year, Chase will increase its flexibility by including additional imaging delivery methods. In addition to expedited funding, customers will enjoy other benefits, including reduced manual processes, clerical errors, shipping costs and other time- and money-consuming steps. Chase Correspondent Lending is a residential mortgage lender, based in Iselin N.J. For more information, visit www.chasecorrespondent.com.

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Aug 02, 2006

Analysis and Data

loanDepot Reports Eighth Consecutive Quarterly Loss

Originator reports a quarterly net loss of $72 million on revenues of $223 million as first-quarter origination volume declines 8% year over year.

loanDepot reported its eighth consecutive quarter of losses Tuesday evening. The Irvine, Calif.-based lender saw its quarterly production volume fall 13% to $4.6 billion January through March, down from $5.3 billion the previous quarter and $4.9 billion in the first quarter ...

Analysis and Data

Mortgage Applications Increase 2.6% Over Week Prior

Latest MBA survey shows purchase and refinance applications still lagging, with 17% and 6% respective decreases YOY

Mortgage applications increased 2.6% the week ending May 3, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The Market Composite Index, a measure of mortgage application volume, increased 2.6% from the week prior on a seasonally-...