Online Second Mortgage
Mortgage Lenders Fund Record Loans - Production News From MortgageDaily.com
Several major mortgage bankers originated a record volume of loans, according to second quarter financial data analyzed by MortgageDaily.com, the dominant source of online news for the mortgage industry.
NovaStar Financial Inc. closed $2.8 billion in mortgages during the second quarter -- $1.0 billion more than first quarter. The Kansas City, Mo.-based lender said the latest numbers represented an all-time record. Most of the real estate investment trust's business was delivered by mortgage brokers.
Melville, N.Y.-based American Home Mortgage Investment Corp. also saw all- time high production during the second quarter, with $14.9 billion in fundings. "Our production business experienced record originations, record market share, a strong gain-on-sale margin and improved warehouse income," said CEO Michael Strauss in the earnings statement.
Related Online Second Mortgage links
LION Announces Second Quarter 2006 Financial Results; Growth in ...
SEATTLE--(BUSINESS WIRE)--Aug. 3, 2006--LION, Inc. (OTCBB:LINN), a leading provider of online lead generation and advanced business solutions that streamline the mortgage loan fulfillment process, today reported total revenue of $3,537,000 for the second quarter ended June 30, 2006, compared to $3,533,000 for first quarter 2006. The Company recorded a net loss for second quarter 2006 of $535,000, or $0.01 per share, compared to a net loss of $186,000 for first quarter 2006 and a net loss of $179,000 for the same period in the prior year. The Company booked a net loss of $721,000, or $0.02 per share, for the fist six months of 2006 compared to a loss of $328,000, or $0.01 per share, for the same period a year ago.
Included in the Company's net loss are $219,000 for fees and expenses associated with strategic undertakings, including due diligence and other related expenses, and accrued expense of $170,000 related to an unasserted potential claim against the Company.