MIAC last weekend was the victim of a ransomware attack traced to Russia. The loan trader and asset evaluator did not cave to the demands of hackers, but the incident proved to be a major headache.

Interest rate trends and industry consolidation are tailwinds for big players in the non-QM market.

U.S. Bank surpassed JPMorgan Chase and Wells Fargo in terms of mortgage originations in the first quarter of 2023. Profit margins also seem to be improving.

2022 was a tough year for lenders, servicers and others who make their living off of residential mortgages, which usually means lower pay for senior staff. But a review of early proxy filers revealed a few CEOs got nice raises.

At March 31, USB’s “servicing for others” portfolio totaled $241.7 billion and had an asset value of 154 basis points.

Bank of America uses just one channel to produce loans, retail.

JPMorgan surpassed Wells in home lending during the quarter...

But maybe there is a way forward for the Ann Arbor-based nonbank...

Citibank originated $5.1 billion in home mortgages during the first quarter, almost the same amount it did during the fourth quarter of 2022.

Acra’s non-QM pipeline is up to $500 million, double what it was a few months back. Angel Oak is seeing improved conditions as well. Better times ahead for these two nonagency stalwarts? Looks that way.