Most lenders reported rising production volume, but shrinking margins ate into bottom-line profitability. Servicing results depended on how successful the firms were in hedging MSR. (Includes data table.)
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JPMorgan Chase remained the largest bank in terms of servicing for others and increased its volume in the second quarter, a feat managed by only one other bank in the top 10. (Includes data table.)
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Mortgage originators and investors believe that automation must go hand-in-hand with human expertise to create value for a company, and boost margins.
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Even with interest rates on mortgages coming down, home sales have been tepid in recent months, with potential buyers waiting for even lower interest rates.
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Interest rates continue to be the top priority for borrowers when choosing a mortgage lender, according to a study by Corporate Insight, but borrowers also value interest rate locking options and rate matching.
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With interest rates on mortgages set to come down, some lenders are looking to quickly adopt tech to help with originations. Blend Labs is seeing lenders use more of the tech vendor’s products and an automated refi offering is on the way.
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Remote work increases for mortgage fulfillment; MISMO offers reference materials for ESG data; lenders frustrated with tech vendors; ICE updates Encompass; tech firms offer loan audits with AI.
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