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Flagstar Sells Servicing Rights.
TROY, MI -- Flagstar Bancorp here faced plenty of headwinds that held back earnings in the last year, but a gain from the sale of mortgage servicing rights helped offset some of the problems.
Still, Flagstar posted fourth-quarter earnings of $6.9 million, down from fourth-quarter 2005 earnings of $22.8 million. Earnings for all of 2006 totaled $75.2 million, down from $79.9 million in 2005.
The company said its 2006 results were hurt by lower interest income, a decline in gain on sales, and a one-time charge in the fourth ...
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- MICHIGAN NATIONAL CORP. ANNOUNCES SALE OF MORTGAGE SERVICING RIGHTS PORTFOLIO...
- Press release article from: PR Newswire August 11, 1994 700+ words
...Corporation ("IOMC"), agreed to sell certain of its assets, including its $8.6 billion mortgage servicing rights portfolio, its mortgage servicing operation and non-Michigan loan origination business to Norwest Mortgage, Inc. ("Norwest...
- MICHIGAN NATIONAL CORPORATION ANNOUNCES: OCC TERMINATES MEMORANDUM OF...
- Press release article from: PR Newswire October 13, 1994 700+ words
...Mich., has concluded the sale of certain of its assets, including its $8.6 billion mortgage servicing rights portfolio, its mortgage servicing operation and non-Michigan loan origination business to Norwest Mortgage, Inc. ("Norwest...
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- Magazine article from: US Banker Muolo, Paul January 1, 1996 700+ words
...the transfer of servicing rights to loans purchased...lucrative field of mortgage servicing may be an indication...market for home servicing rights is leveling off...balance sheets the servicing rights to loans they originate...
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- Magazine article from: Mortgage Banking Cochran, Robert J. Coffman, Edward N. Harless, David W. February 1, 2005 700+ words
WHY STUDY MORTGAGE SERVICING RIGHTS (MSR) VALUATION CHARACTERISTICS...between the treatment of purchased mortgage servicing rights (PMSR) and servicer-originated mortgage servicing rights (OMSR). The new rules were contained...
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...Mortgage to purchase $6.5 billion of mortgage servicing rights and the company's mortgage servicing operation, based in Scottsdale, Az...approximately $85 million for the mortgage servicing portfolio and the servicing operation...
- SFAS No. 122 eliminates inconsistencies in reporting mortgage-servicing rights....
- Magazine article from: The Ohio CPA Journal Jordan, Charles E. Clark, Stanley J. Li, June F. February 1, 1996 700+ words
...very large. Trading in mortgage servicing rights for the three largest...122, "Accounting for Mortgage Servicing Rights," to eliminate these...respect to accounting for mortgage servicing rights. The new standard addresses...
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- Magazine article from: Journal of Accountancy January 1, 1994 700+ words
...on * Whether originated mortgage servicing rights should be recognized as...loans. * How recognized mortgage servicing rights should be evaluated for...treatment of purchased mortgage servicing rights and in the treatment of...
- CLARIFICATION of American Home Mortgage Servicing, Inc. Acquires Servicing...
- Press release article from: Business Wire February 5, 2009 700+ words
...American Home Mortgage Servicing, Inc. Acquires Servicing Rights for 185...the Master Servicing Rights pursuant...serviced. Mortgage servicing consists...AMERICAN HOME MORTGAGE SERVICING, INC. ACQUIRES SERVICING RIGHTS FOR 185...
- American Home Mortgage Servicing, Inc. Acquires Servicing Rights for 185,000...
- Press release article from: Business Wire February 5, 2009 700+ words
IRVING, Texas -- American Home Mortgage Servicing, Inc. ("AHMSI") has signed an agreement with Citi Residential Lending to acquire a servicing rights portfolio on 185,000 loans. AHMSI will board the loans in early February. Customers...
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- Magazine article from: The National Public Accountant Ratcliffe, Thomas A. Stewart, Robert E. May 1, 1996 700+ words
...entitled "Accounting for Mortgage Servicing Rights." SFAS No. 122 amends...accounting attributable to mortgage servicing rights associated with loan origination...retroactive capitalization of mortgage servicing rights related to transactions...
Source: HighBeam Research, Flagstar Sells Servicing Rights.