Most publicly traded banks reported rising mortgage banking income during the second quarter as production volume and gain-on-sale margins rose. But several industry leaders couldn't gain traction. (Includes data chart.)
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Agency securitizations saw a healthy rebound in 2Q23 after the bleak results of the previous quarter. Retail production of purchase mortgages drove the recovery. Loan quality also improved. (Includes two data charts.)
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Mr. Cooper’s servicing portfolio is expanding while the number of employees in the nonbank’s call center is declining. Investment in technology is helping to reduce costs and fuel servicing growth.
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Volumes are down and lenders are racing to cut costs, but some of their approaches may not be the best for long-term success, a Stratmor analyst said. He suggested lenders update their LO comp structures.
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New research shows that when mortgage companies use minority actors in their TV ads, viewers are more likely to apply for a loan with that lender. Borrowers also showed more brand favorability.
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A new paper by Harvard University’s Joint Center for Housing Studies has called for policymakers and mortgage lenders to play a larger role in removing barriers to homeownership for immigrants.
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SEC approves Better-Aurora merger; FICO increasing mortgage revenue as originations decline; Rithm to spin off most of its origination/servicing business; impact of revised capital requirements for large banks.
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