Lenders’ digitization efforts have helped improve consumer experience and reduce cycle time over the past two years, but have not been effective in bringing down costs, according to Fannie Mae.

Implementation of Ginnie’s risk-based capital requirements delayed; Fitch downgrades ratings of Finance of America, Provident; foreclosure starts decline; new alerts in Freddie’s Loan Advisor dashboard; MISMO seeks comments on three proposals; Staircase offers MSR transfer automation; LoanCare launches HELOC servicing; new LO recruitment tool.

Rumor has it that Frank Martell was brought on as CEO of loanDepot to cut it down to size and sell it. Can he? Will he? Stay tuned.

It’s not easy making a living originating loans these days, especially for third-party lenders. The latest firm to exit TPO: Rushmore.

MCT and Freddie Mac experts discussed the strategies of managing MSR assets. While some firms are interested in the best financial deal they can get, others are focused on retaining clients.

Many publicly traded mortgage companies remained profitable in the second quarter, though earnings were down sharply. (Includes data chart.)

The Southfield, MI-based bank expects fixed-cost savings of roughly $3 million a year from using MortgagePath for originations and the vendor will be responsible for compliance issues.

Institutional investors have driven down the debt prices for several publicly traded nonbanks this year. But some are better off than others.

Mortgage earnings declined across a group of 24 banks in the second quarter of 2022 as rising interest rates continued to eat into originations and margins. The outlook for the third quarter isn’t great either. (Includes data chart.)

MBA punts on recession forecast; interest rates on mortgages expected to decline; Flagstar merger dragging on; homeowners want mortgage financing for energy improvements.