A diverse group of bank and nonbank lenders eked out a modest $375 million in originations and secondary marketing income during the fourth quarter, down 67% from the prior period. The MBA said only one in four lenders turned a profit in the final three months of 2022. (Includes data chart.)
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Loans sales by banks and thrifts outpaced originations of mortgages marked for sale for the third consecutive year in 2022. The sales boom looks to be coming to an end as loans held for sale dwindle. (Includes two data charts.)
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Three regional banks failed recently due partly to interest-rate risk. To avoid the same fate, mortgage companies of all stripes are being pushed to give up some profits to manage interest-rate risk.
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Sale chatter has been following Home Point and its MSRs for several months now but with no deal in hand. Still, a resolution could be moving closer.
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Firms are building artificial intelligence-based tools for application in various stages of the mortgage process. Compliance concerns abound.
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Nonbanks are using short-term warehouse funding to their advantage, ramping up capacity when needed and quickly reducing intake when originations dip, an analysis of nonbanks’ financial statements shows.
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