Originations Steady in First Quarter, UWM on Top April 26, 2024 Brandon Ivey First-lien mortgage originations remained in a trough in the first quarter of 2024.Read More
Rising Costs Prompt Large Losses for Lenders in 2023 April 26, 2024 Brandon Ivey Only 36% of the lenders participating in the MBA’s report turned a profit in 2023, down from a 53% share of participants in 2022.Read More
Short Takes: Slight Increase in Pending Home Sales / Non-QM Performance Improves / Wells Expands Downpayment Grant Offering / Negative Outlook for Community Loan Servicing April 26, 2024 Brandon Ivey Elevated interest rates and limited housing inventory led to a tepid increase in pending home sales in March.Read More
Lending Declines at PennyMac in First Quarter April 25, 2024 Brandon Ivey The nonbank also saw low servicing-related income due to a large loss tied to hedging.Read More
Few Major Lenders Managed to Increase Production in 2023 April 25, 2024 Brandon Ivey Originations dropped to varying degrees during the year at all of the top 10 lenders.Read More
Short Takes: High Inflation Reading / Home Prices Down in Some Cities / AmWest Partners With Ares / Carrington Adds ITIN Product April 25, 2024 Brandon Ivey “There was a surprisingly strong reading of core PCE inflation,” said Joel Kan, a vice president and deputy chief economist at the Mortgage Bankers Association.Read More
FTC to Ban Noncompete Agreements April 24, 2024 James Dohnert Examples from various industries, including the mortgage market, helped to push the FTC to issue the final rule.Read More
Mr. Cooper Increases Income, Servicing, Originations in 1Q April 24, 2024 Brandon Ivey Rising interest rates helped to lift the value of the nonbank's MSRs.Read More
HUD Sanctions 88 FHA Lenders in FY2023 April 24, 2024 Monica Hogan The civil monetary penalties resulting from the administrative actions were roughly $26.4 million.Read More
Short Takes: Applications Down Slightly / Sales of New Homes Increase / New CEO at Figure Technology Solutions / Lender to Offer Services in Spanish April 24, 2024 Brandon Ivey Applications declined somewhat as interest rates increased.Read More
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