As interest rates rise, homeowners are staying out of the real estate market because they don’t want to let go of the record-low mortgage rates they were able to obtain over the last two years.
Chase’s top officials shed light this week on how First Republic Bank’s high-quality mortgage assets and affluent borrowers fit right into the megabank’s wheelhouse.
Rising interest rates and tightening of credit standards from banks caused a slowdown in jumbo lending in the first quarter of 2023. First Republic Bank was the top producer in the sector, followed by Wells Fargo. (Includes data chart.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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