With Wells Fargo exiting the correspondent channel in the first quarter, no single lender filled the bank’s void. Still, the correspondent channel actually gained market share in the conventional-conforming sector. (Includes two data charts.)
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The volume of mortgages classified as held for sale at banks and thrifts ticked up in the first quarter, ending a long decline. Loan sales by banks also outpaced originations of mortgages intended for sale. (Includes two data charts.)
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Median monthly home payments have jumped from $2,200 in January 2022 to $3,000 in March 2023, Harvard’s Joint Center for Housing Studies reports.
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There was no surge in buyback activity at banks and thrifts in the first quarter. And the depositories aren’t expecting a deluge as reserves for repurchases declined. (Includes data chart.)
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Downpayment assistance is a “tried and true” way to help those without generational wealth. But state programs tend to run out of funds early in the year.
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CrossCountry, Guild offering downpayment assistance; majority of loan originators living paycheck to paycheck; legislation would limit trigger lead activity; and more.
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