Last year was a record year in terms of loan production at $4.4 trillion. But oftentimes, when you have a boom, there’s an ugly hangover in the form of job cutbacks. How bad might it get?

A cash management plan submitted in bankruptcy court by FGMC would “circumvent” the rights of FGMC’s warehouse lenders, according to Customers Bank and Flagstar Bank.

Implementing e-bidding increases the success of foreclosure auctions and reduces price discounts.

First Guaranty Mortgage Corp., a prime and non-agency lender owned by PIMCO, has gone bust, leaving a long list of creditors in its wake. The big question: Are there other FGMCs out there?

Overall, banks saw a 24% decline in mortgage banking income in the first quarter of 2022. Many banks bucked the trend with large increases in income compared with the previous quarter. (Includes data chart.)

Mortgage market starting to return to normal (whatever that means.)

The rapid increase in interest rates seen in the first quarter took a big bite out of income from production and helped to goose servicing earnings. And while a downturn in originations was expected this year, it could be worse than expected.

Higher interest rates didn’t have much of an impact on home price appreciation in March; Freddie Mac launched new automated underwriting capabilities; Fitch shifts its outlook for ratings of Finance of America Companies to negative; MISMO remains busy.

Rising interest rates helped to push up income tied to mortgage servicing rights more than they reduced income from originations among a group of publicly-traded nonbanks. Results varied to some extent, with one large mortgage company even taking a loss in the quarter. (Includes data chart.)

If projections by the MBA are correct, interest rates for mortgages are levelling off, which should relieve some of the pressure lenders are facing on originations and profit margins.