Originations of both non-agency and conforming jumbo mortgages increased in the second quarter. Combined, they accounted for 16.1% of first-lien originations. Meanwhile, home price appreciation is slowing. (Includes three data tables.)
Nonbanks are making money once again, which could pave the way for new nonbank IPOs. Also, some of the IPO class of 2020/2021 are trading above their out-of-the-gate prices.
Lenders increased their origination volume for ARMs in the second quarter of this year after a lull in lending in the first three months. (Includes data table.)
CFPB Director Chopra said contract-for-deed sales might sound like a path to homeownership for those who feel they have no options, but they have real risks.
With interest rates on mortgages set to come down, some lenders are looking to quickly adopt tech to help with originations. Blend Labs is seeing lenders use more of the tech vendor’s products and an automated refi offering is on the way.
Originations increased across mortgage products in the second quarter. The conventional-conforming sector’s market share held steady while government-insured lending lost some share. (Includes data tables.)
Refis are poised to increase and MSR values will decline as interest rates decline. United Wholesale Mortgage is prepared for the moment, having sold off a significant amount of MSRs earlier this year.
Lenders and servicers have made significant investments in recapture capabilities in recent years for when interest rates decline and refinancing takes flight.