While mortgages with primary insurance coverage included in agency mortgage-backed securities declined in the first quarter overall, VA refi volume jumped. (Includes two data tables.)
The share of higher-risk lending going to the GSEs expanded slightly in the first quarter, but high-credit score mortgages continued to dominate business at Fannie Mae and Freddie Mac. (Includes two data tables.)
The retail channel lost some ground across all three loan product categories. In the conventional-conforming market, the retail share went from 38.8% in the third quarter to 38.2% in the fourth quarter. (Includes two data tables.)
Banks and thrifts continued to report a decline in originations through their retail mortgage platforms in 2023. Cornerstone Capital Bank was the top bank retail mortgage lender in the fourth quarter.
The banking industry reported a slight contraction in its servicing for others in the fourth quarter of 2023. Wells Fargo accounted for a significant share of the industry’s decline. (Includes data table.)
Consumer complaints filed with the CFPB against the financial services industry increased in all most categories in the fourth quarter of 2023. (Includes two data tables.)