The mortgage market expects output to be flat this year, but digital mortgage lender Better.com said it could double its production to $2.5 billion. “We did about $1.3 billion last year, which is three times what we did in 2017,” the company’s President Jerry Selitto said.

In a lackluster market amid rising interest rates and limited inventory, advisory firm Strategic Mortgage Finance Group has advice on how mortgage lenders can remain profitable.

Industry groups have once again requested federal regulators delay a new accounting standard for credit losses. The Current Expected Credit Loss standard is scheduled to be implemented on a phased-in basis beginning in January.

Commercial banks and savings institutions increased the amount of mortgage servicing rights they handle for other investors in the fourth quarter of 2018, although valuations for the asset softened. [Includes one data chart]

Retail mortgage lending remained the dominant originations channel in 2018, but it lost some luster to third-party production channels. [Includes two data charts]

Origination of FHA-insured reverse mortgages fell more than 30% in December due to the partial government shutdown and an overall slowdown in production volume.

loanDepot this week launched a digital mortgage product, mello smartloan, promising quick turn times for more than half of its loan applicants. The nonbank lender claims borrowers can now close their mortgages in just eight days.

Although employment in the mortgage industry has been fairly robust the past few years, it’s been a dicey proposition for real estate appraisers. According to figures compiled by the Appraisal Institute, a national trade group that represents the sector, there were 82,208 active license holders at last count, down 8.1% from four years earlier.

As mortgage profits weaken, two banks that have had a foothold in residential finance for several decades are taking different paths. One, TIAA Bank, Jacksonville, FL, is exiting traditional retail but staying in the mortgage space. The other, Provident Savings Bank, Riverside, CA, is getting out entirely.

The majority of lenders now offer a front-end digital mortgage process for borrowers but there is considerable variability in adoption rates for various back-end processes, a survey by Strategic Mortgage Finance Group showed.