Better is touting investments in artificial intelligence to help slash costs tied to originating refis. The lender is also building a distributed retail operation to increase production of purchase mortgages.

Mortgage-banking income reported by nonbank lenders nearly tripled in the fourth quarter to $3.86 billion. The gain came from massive markups of MSR values thanks to rising interest rates. (Includes data table.)

After achieving profitability in the third quarter, loanDepot returned to the red in the fourth quarter. And the CEO brought on to turn the nonbank’s fortunes around three years ago is departing, with company founder Anthony Hsieh taking a larger role.

With bids for MSRs remaining strong, Guild Mortgage sharply reduced the share of its mortgages originated with servicing retained in 2024.

When Rocket’s acquisition of Redfin could pay off; PennyMac sponsoring Team USA at Olympics; TransUnion brings on verification tool from Truework; Eastside Distilling now Beeline Holdings, a mortgage company.

The industry’s most profitable mortgage-banking business during the fourth quarter was operated by Truist Bank. Meanwhile, TD Bank reported a huge $911.2 million loss related to the sale of mortgage loans. (Includes data table.)

Homebuilders with lending units continue to prop up home sales by offering mortgage buydowns. The tactic cuts into homebuilders’ margins but many company officials prefer lower margins rather than unsold inventory.

It might be said that Mr. Cooper has timed the servicing market perfectly. While other shops grow tired of the vicissitudes of interest rates and MSR marks, Mr. Cooper has pounced, gobbling up portfolios that have only grown in value as rates stay stubbornly high.

Northpointe Bank could raise upwards of $200 million via an initial public offering. The bank said the IPO could help to double its warehouse lending business and increase production of a unique non-agency mortgage.

Combined, banks and thrifts reported $2.21 billion in mortgage-banking income during the third quarter, a slight increase from the previous period. Through the first nine months of the year, industry earnings were up 8.7% from the same period in 2023. (Includes data table.)