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Inside Mortgage Trends

May 12, 2023

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Most Banks Post Stronger Mortgage Banking Earnings

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.) Read More

Brokers Increase Market Share as Refis Continue to Wane

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.) Read More

Low Housing Inventory Slows Mortgage Market

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. Read More

Wells Among Lenders with Higher Denial Rates in 2022

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.) Read More

Mr. Cooper Turns to Tech for Customer Service

The nonbank plans to use artificial intelligence in an effort to sharply reduce expenses from its call center operations. Read More

Nonbanks Making Push into Home-Equity Lending

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. Read More

Valuation of Mortgage Assets Spells Trouble for More Banks

The Fed’s massive increase in interest rates has lowered the value of 20-year-plus Treasuries by 30%, according to NBER economists. Read More

Grapevine: Debt Ceiling and Interest Rates; Lenders Still Shrinking

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. Read More

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