Sales of purchase-money mortgages into the agency secondary market continued to gain momentum in the third quarter, but the refinance sector saw further erosion. (Includes two data charts.)
The decline in mortgage origination from the first to the second quarter hit nonbanks harder, but the industry still accounted for 70% of production by the top 100 lenders. (Includes two data charts.)
As originations go, so goes the warehouse sector. In 2Q21, commitment levels reached a new high but borrowing nonbanks are now trimming how much credit they will need for the rest of the year. (Includes data chart.)
The total delinquency rate fell by 155 basis points between March and June, according to Inside Mortgage Finance’s Large Servicer Delinquency Index. Still, close to 1.5 million borrowers are more than 90 days past due. (Includes data chart.)
Retail and institutional investors that bought shares in mortgage IPOs of the past year are feeling glum these days. Most are sitting on losses. Are better days ahead? Hard to say...
Loan officers continue to benefit from strong refis and purchases, but compensation is coming under pressure. Meanwhile, the need for processors is not abating, according to LBA Ware.
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