FDIC call-report data show mortgage banking income at banks and thrifts declined by a quarter sequentially, although full-year profits dropped by just 4%. Chase was easily the most profitable bank in the mortgage sector. (Includes data table.)
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The Community Home Lenders of America last week wrote to the CEOs of credit bureaus Equifax, TransUnion and Experian, asking them to roll back recent price increases on soft credit pulls.
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The banking industry reported a slight contraction in its servicing for others in the fourth quarter of 2023. Wells Fargo accounted for a significant share of the industry’s decline. (Includes data table.)
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One area of particular concern among quality control regulators is mortgage servicing rights transfers, a Mortgage Quality Management & Research vice president said last week.
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The company estimates mortgage technology segment revenue growth in the low to mid-single-digit range this year. The segment boosted revenue by 17% in 2023.
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Increases in property taxes and home insurance that bump escrow amounts could put homeowners in financial hardship, according to a new survey by Lereta.
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The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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