The retail share of conventional-conforming production rose by more than three percentage points while government and nonconforming lenders turned toward correspondents. (Includes two data tables.)
Banks and thrifts reported $44.54 billion in retail mortgage production in the second quarter, making it the strongest three-month period for bank retail lending since the third quarter of 2022. (Includes two data tables.)
Soaring home price appreciation in recent years has created plenty of tappable home equity. Firms offering equity-extraction products use various techniques to make homeowners aware of their offerings.
Outsourcing underwriting tasks to offshore contractors can help reduce production costs for mortgage lenders, according to an executive at Verity Global Solutions.
Housing counseling agencies should partner with lenders, nonprofits and government housing agencies to develop fee-for-service models to tap additional funding, according to industry experts.
Improving efficiency played a big role in boosting mortgage-banking profits in the second quarter as gain-on-sale margins narrowed while servicing took a hit on net MSR valuation. (Includes data table.)
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