The nonbank plans to use artificial intelligence in an effort to sharply reduce expenses from its call center operations.

Tightening of lending standards by banks in the wake of elevated interest rates has created an opportunity for nonbanks to increase their share of the home-equity lending market.

The Fed’s massive increase in interest rates has lowered the value of 20-year-plus Treasuries by 30%, according to NBER economists.

Interplay between debt ceiling and mortgage interest rates; mortgage employment declines; rate locks down; Rithm considers spin-off; Planet Financial looking for lenders; new LO recruiting software; Blend’s market share grows; Black Knight’s margins; new appraisal marketplace; MISMO requests for comment.

About 48% of potential first-time buyers are saving up to buy a new home and get out of the monthly rental cycle.

Technology and mortgage industry experts will team up to develop solutions to improve the digital mortgage experience, reduce costs and improve access to mortgage finance.

Correspondent sales in 2022 declined by nearly 50%, in line with total originations. Among the top correspondent sellers, trends varied, based on an analysis of HMDA data. (Includes data chart.)

The value of a median-priced home has appreciated by $190,000 over the past 10 years, the National Association of Realtors said in a report this month.

Profitability outlook; Fitch downgrades Home Point’s corporate ratings; UWM aims to limit trigger leads; New American Funding looking for joint ventures; new initiatives at MISMO.

Bureau appeals Townstone Financial ruling; Chopra to host discussion on zombie second mortgages; CFPB seeks $3.16 billion penalty.