It’s a safe bet that further job cuts are in the cards for most mortgage franchises. But is the worst of the personnel bloodletting over? That’s hard to say. The optimists out there are hoping for a stronger second half.
The Federal Housing Finance Agency, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau have a number of mortgage-related rulemakings in the works, according to their policy agendas.
A new year has commenced, with originators of all sizes trying to figure out the best way to stay afloat until rates fall markedly and conditions improve. The biggest challenge, perhaps: cash burn.
Home-equity originations rose 4.2% in the third quarter as the home-equity market opened up to nonbank lenders. Untapped HELOC commitments point to further growth to come. (Includes three data charts.)
A handful of company sales came to light this week, all involving nonbanks. The activity suggests the first quarter of 2023 could be a busy one for M&A.
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