After a harsh fourth quarter, most banks reported rebounding earnings from their mortgage banking operations in early 2023 despite declining originations volume. (Includes data chart.)
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An analysis of agency securitizations shows brokers gaining market share as their loan sizes increased faster than other channels. Credit scores improved somewhat but DTI and LTV ratios rose. Refis took a smaller slice of a shrinking pie. (Includes two data charts.)
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There were roughly half a million fewer new listings in the first four months of this year than in the first four months of 2019, a year before the pandemic.
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Denial rates on applications for purchase mortgages in the conventional-conforming market held steady in 2022, while refi rejections jumped as interest rates increased during the year, according to HMDA data. (Includes data chart.)
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Tightening of lending standards by banks in the wake of elevated interest rates has created an opportunity for nonbanks to increase their share of the home-equity lending market.
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Interplay between debt ceiling and mortgage interest rates; mortgage employment declines; rate locks down; Rithm considers spin-off; Planet Financial looking for lenders; new LO recruiting software; Blend’s market share grows; Black Knight’s margins; new appraisal marketplace; MISMO requests for comment.
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