Outlook improves for large nonbanks; tech vendors take losses while increasing market share; rate locks decline; new verification offerings from CoreLogic; LOS provider and servicing tech vendor partner; MISMO seeks comments on engineering guidelines.

JPMorgan remained the top bank in earnings from its mortgage banking operations after a sharp increase in the third quarter. Its nearest rivals, U.S. Bank and Wells Fargo, both reported declining income. (Includes data table.)

Better went from more than 10,000 employees in 2021 to fewer than 900 as of Sept. 1; lenders start early on 2024 loan limits; mortgage lock-in easing; MISMO initiatives; tool to check for appraisal bias; automated title reviews; insurance platform raises funds.

Most public companies generated positive results from their production and servicing operations, but MBA data reveal that many lenders continued to struggle financially in the second quarter. (Includes data chart.)

Overall, mortgage-banking income at banks increased by 8.7% from the first to the second quarter, though income declined at several top banks. (Includes data chart.)

It’s not exactly the best time for a mortgage company to go public, especially with conventional rates north of 7%. But Better.com pulled it off. Then again, its share price is a nightmare and institutional investors are leery.

Most publicly traded nonbanks saw substantially improved performance from their mortgage banking operations in the second quarter. But two large firms continued to lose money. (Includes data chart.)

Blend is taking steps to turn a profit after years of losses. The moves include increasing revenue per mortgage transaction and decreasing expenses through layoffs.

Most publicly traded banks reported rising mortgage banking income during the second quarter as production volume and gain-on-sale margins rose. But several industry leaders couldn't gain traction. (Includes data chart.)

Mr. Cooper’s servicing portfolio is expanding while the number of employees in the nonbank’s call center is declining. Investment in technology is helping to reduce costs and fuel servicing growth.