Most publicly traded nonbanks saw substantially improved performance from their mortgage banking operations in the second quarter. But two large firms continued to lose money. (Includes data chart.)
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Blend is taking steps to turn a profit after years of losses. The moves include increasing revenue per mortgage transaction and decreasing expenses through layoffs.
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Banks and thrifts handled slightly less servicing for others as of the end of June. Still, a metric tracking the fair value of MSRs at banks increased during the second quarter. (Includes data chart.)
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Community awareness of and reckoning with systemic racism following the BLM protests in 2020 appears to have led lenders to reduce the interest rate gap between Black and white borrowers.
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Reform efforts in the state have focused on increasing the inventory of residentially-zoned land while leaving unaddressed underlying cost drivers constraining feasibility, according to researchers.
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High interest rates are cutting into demand for mortgages; many consumers’ expectations for interest rates are wrong; ICE and Black Knight move close to merger; servicer using blockchain, lender guarantees underwriting results from AI; Flagstar’s mortgage tech accelerator; mortgage payoff fraud attempts increase.
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