The correspondent production channel boosted its share of loans delivered into agency MBS during the fourth quarter, but not enough to regain its former glory. (Includes two data charts.)
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Most publicly held banks reported substantial declines in mortgage banking income in the fourth quarter. But earnings for the full year were stellar, up about 78% from 2019. (Includes data chart.)
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It’s not every day that a lender commits to sell $34 billion of MSRs. IMA is the investment banker on the package and speculation is rising on who the seller might be.
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If mortgage originations are operating in a typical three-year cycle, profits will likely fall this year, according to industry analysts. The wild card: how lenders react to continued demand for refis.
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For the first time, MISMO is charging a 75-cent-per-loan fee for mortgages registered electronically. The fee will help fund MISMO’s activities, with an emphasis on digital mortgages.
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The income of mortgage LOs increased to roughly $27,400 per month in the fourth quarter of 2020 from approximately $16,900 in the year-ago period, according to LBA Ware.
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Mike Fratantoni, chief economist at the MBA, predicts that with the rollout of vaccines for the coronavirus, the leisure and hospitality business will recover, resulting in forbearance and delinquencies curing.
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