Sharply higher interest rates clobbered origination income in the first quarter of 2022, but there was a silver lining to this dark cloud: higher MSR valuations. (Includes data chart.)
Delinquencies, after spiking at the start of the pandemic, are back at manageable levels. Serious delinquency rates are still elevated, though. (Includes data chart.)
It stands to reason that as origination activity declines, some CEOs might earn less money this year than last. But a few are sharing the pain by taking a salary of $1 a year.
Another blow-out earnings quarter from Freddie Mac. But earnings were juiced a bit by loan-loss reserve recaptures. Meanwhile, its net worth continues to increase.
In years past, LendingTree’s Doug Lebda was one of the industry’s highest paid executives. In a few weeks we’ll get a look at his 2021 compensation package. Also, Ocwen’s chief received a nice raise last year.
So far, among public companies, Mr. Cooper CEO Jay Bray was the top mortgage earner in 2021 but many lenders have yet to file proxy statements. Meanwhile, MBA trimmed its production forecast.
The refinance sector took the biggest hit in the agency market during the first quarter of 2022, though it still accounted for just over half of the loans sold to Fannie, Freddie and Ginnie. (Includes two data charts.)
Origination profitability has been on a slippery slope the past year, but there are possible signs of stability. Or is that wishful thinking? (Includes data chart.)
Warehouse finance was a great business to be in the past two years. But with rates rising and primary market originations slipping, all bets are off. The spring homebuying season should bring some relief. (Includes data chart.)
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