First-lien originations fell 10% from the first to the second quarter, but a number of lenders — especially those that focus on purchase-lending and non-agency products — outperformed their peers. (Includes two data charts.)
Commercial banks, so far, have turned in underwhelming mortgage results for the second quarter, but that was to be expected. The real show starts in a few weeks when publicly traded nonbanks release earnings.
The mortgage IPO market is in tatters these days, given higher interest rates and rapidly shrinking profits and originations. So why does fintech Better.com think it can pull off a deal?
A year ago, most mortgage workers could name their price and be compensated at levels never experienced before. And today? It’s a whole different world, with lenders lopping off hundreds, if not thousands of jobs.
The American Association of Residential Mortgage Regulators’ best practices highlight issues state regulators should consider when approving a permanent work-from-home option for LOs employed by nonbanks.
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