Nonbanks accounted for 65.2% of the residential mortgages originated in 2024. All of the top five lenders were nonbanks and they all gained market share. (Includes two data tables.)
Origination giant Rocket is purchasing servicing behemoth Mr. Cooper at a premium. The biggest risk for Rocket is that mortgage rates might finally decline markedly in the coming quarters. Or is that an advantage?
FHFA directed the GSEs to end their SPCPs, prompting renewed concerns that the Trump administration could take further actions to limit special purpose credit programs in the mortgage market.
The amount of available home equity ticked down during the fourth quarter and lenders saw a fall in demand from homeowners for home equity loans. Still, for the full year, home equity lending increased by 10.8%. (Includes three data tables.)
The spring homebuying season might not be as strong as initially expected. Interest rates are challenging and employment trends are faltering, reducing demand for purchase mortgages.
CDFIs provided $107.04 billion of residential real estate financing in fiscal year 2023. More than 500 CDFIs consider residential financing to be their primary or secondary activity.
The retail share of total first-lien originations declined to close to 50% in 2024. Brokers took share from the retail channel, led by United Wholesale Mortgage. (Includes six data tables.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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