With a bank liquidity crisis taking seed, some nonbank CEOs started asking a basic question: Are our escrows safe? What about our corporate deposits? Needless to say, it’s been an interesting week.
When nonbanks hurt, so too do their warehouse bankers. Just how bad is it? Many originators in the primary market are struggling to post a profit, violating their contractual covenants. (Includes data chart.)
The FHA gained share in the first-time buyer market during the fourth quarter even though its average loan amounts were up slightly. Rising mortgage rates led to higher debt burdens across the market. (Includes four data charts.)
It’s been four months since FHFA approved new credit scoring models for loans delivered to the GSEs. While the transition wasn’t going to be quick, industry participants are still waiting on a timeline.
More M&A talk is hitting the market. One possible buyer is Movement Mortgage, the nation’s 24th largest home lender. Meanwhile, Steve Adamo has parted ways with Embrace Home Loans.
Third-party originators typically do better in strong purchase-mortgage markets, which was apparent again in the fourth quarter of 2022. (Includes six data charts.)
RSS