UWM had, by far, the most successful third quarter among publicly traded nonbank mortgage companies, boosting net income by 51% from the previous period. But others saw sharp declines in profitability and four nonbanks posted losses. (Includes data chart.)
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Banks and thrifts continued to see more value in their mortgage servicing rights in the third quarter, while their portfolios increased only slightly. (Includes data chart.)
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Loan-level analytics can help small and mid-sized mortgage companies decide whether to sell or retain newly originated mortgage servicing rights as they plan survival strategies for an increasingly hostile market.
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The fintech expects cost savings tied to the workforce reductions to materialize starting in the first quarter of 2023. Meanwhile, KBW upgraded the company’s stock to market perform.
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It's a tough origination market, that's for sure. But when times are tough, opportunities can present themselves. Is now a time to buy retail branches from shops that are struggling? If the price is right, yes.
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The homeownership rate among young Black adults who completed college is lower than that among young white adults who didn’t finish high school, according to a new report from the Urban Institute.
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Single borrowers were more likely to use forbearance programs during the pandemic than coborrowers and were disproportionately helped by them, the Urban Institute found.
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