With interest rate trends pushing the mortgage industry toward a down cycle, nonbanks reported a decline in fourth-quarter earnings. Margins remain a hot topic among the biggest players in the market. (Includes data chart.)
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Banks and thrifts reported a 10.6% sequential increase in the volume of mortgages they repurchased in the fourth quarter of 2021. But for the full year, buybacks trended down. (Includes data chart.)
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Finance of America had more than $1 billion of goodwill at the end of September. In the fourth quarter, the company determined its stock price was too low to recognize the benefit, prompting a massive loss.
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Analysts at Fannie Mae looked at 14 components that go into the cost of purchasing a home, along with ongoing expenses. Costs related to the mortgage accounted for roughly 30% of the overall cost.
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Maintaining contact with potential borrowers through Truebill could lower the lender’s cost to acquire consumers, according to Rocket Mortgage CEO Jay Farner.
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JPMorgan Chase has pledged $12 million over the next three years to help five nonprofits test how to increase homebuying and wealth building among Black, Hispanic and Latino households.
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Foreclosure starts increased in February; SEC to revamp cybersecurity reporting for public companies; Tradepost acquires GSF Mortgage as part of an expansion of Go Companies; Milo raises $17 million; MISMO to develop standards for eVaults.
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