With refi business expected to decline later this year, a number of shops are rethinking their hiring plans. Lenders are set to face margin compression, excess capacity and consolidation.

Subservicing has been a growth business the past several years but now some mortgage bankers, flush with cash from the refi boom, are bringing the task inhouse.

Venture capital investors remain optimistic about the prospects for mortgage digitization, funneling $31 million to two technology vendors.

Some industry watchers believe the tax credit is on hold because it could drive up prices in an already tight housing market.

The about-face paves the way for CoreLogic’s acquisition by Stone Point Capital and Insight Partners.

Federal regulators may secretly worry about nonbanks’ viability, but institutional investors continue to buy the debt of top-tier NBs.

Nonbanks’ performance amid disruptions caused by the pandemic supports growth. Moody’s increased its operating environment score for nonbank mortgage companies.

In a split ruling, the Fourth Circuit upheld a trial court’s decision to impose a $9.7 million fine against the nonbank lender for allegedly influencing appraisers to raise their valuation if it didn’t match a refi borrower’s estimate.

Many of the bank’s mortgage borrowers saw income increase during the pandemic, with boosts from stimulus checks and unemployment benefits.

Income accounts for 80% of the valuation gap between homes owned by whites and minorities, while 20% can be attributed to current or past racial bias, according to the American Enterprise Institute.