Servicing became less profitable for many lenders in the third quarter, and it was pressed to cover further deterioration in loan originations and secondary market. (Includes data chart.)
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Thanks to rising interest rates and stunted production volume, banks and thrifts posted their lowest earnings for mortgage banking since the last quarter of 2008. (Includes data chart.)
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A number of nonbanks are offering home-equity loans and other products as a way to take advantage of the huge mass of mortgage debt that's unlikely to pay off early.
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Industry watchers shared some advice and guidance on how lenders can recoup revenue, save costs and drive loan volume in an uncertain market.
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Black and Latino households are disproportionately denied mortgages both within and outside neighborhoods of color, Urban Institute researchers have determined.
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The wholesale lender announced a $500 credit for borrowers seeking Fannie Mae HomePath properties. The program is one of a slew of discounts offered in the past year by lenders trying to generate volume.
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The tough origination market is resulting in additional disclosures by lenders trimming their borrowing facilities. Meanwhile, the FHA reverse lending space looks solid, at least for now.
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