Interest rates continue to be the top priority for borrowers when choosing a mortgage lender, according to a study by Corporate Insight, but borrowers also value interest rate locking options and rate matching.
With interest rates on mortgages set to come down, some lenders are looking to quickly adopt tech to help with originations. Blend Labs is seeing lenders use more of the tech vendor’s products and an automated refi offering is on the way.
Remote work increases for mortgage fulfillment; MISMO offers reference materials for ESG data; lenders frustrated with tech vendors; ICE updates Encompass; tech firms offer loan audits with AI.
JPMorgan Chase reported a hefty gain in mortgage-banking income during the second quarter, but most banks saw declines as gain-on-sale margins declined. (Includes data table.)
The retail channel’s share of agency MBS production slipped from 47.4% in the first quarter to 45.6% in the second quarter. The correspondent and broker channels gained share. (Includes two data tables.)
Rocket is turning profits again after taking a loss in 2023. Now the lender is working to regain the market share it lost, using various strategies for both purchase mortgages and refinances.
Shifting the burden of title insurance from borrowers to lenders may not provide the best overall cost savings, according to economists at the Urban Institute.
New to the servicing sales arena? Been keeping your portfolio forever and are ready to off-load some of it and book a gain? There’s a few basic things you should know.