Only two of 21 banks reported increased income from mortgage banking during the second quarter, both due to improvement on the servicing side of the business. (Includes data chart.)
Income fell at four nonbanks in the second quarter, though performance was far from uniform. loanDepot’s profits dropped 94% compared with the previous quarter.
The number of borrowers whose forbearance plans will expire in the fall is greater than they might have been because maximum forbearance periods are varied based on when a borrower started a plan.
Digital verification of borrowers’ income, employment and assets can significantly reduce the length of the mortgage closing process. And the tech got a boost from the pandemic.
The patent awarded to Liquid Mortgage covers a significant portion of the tech startup’s business model. LM is looking to apply blockchain to the mortgage securitization process.
With refi lending expected to wane, lenders are planning to create a faster, more efficient experience for borrowers, according to a new study from Fannie Mae.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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