Most top lenders saw their production distribution shift dramatically toward purchase-mortgage lending in the second quarter. And nearly all shops reported declining refinance activity. (Includes four data charts.)
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The top 22 executives at the nation’s publicly traded nonbanks earned a stunning $268 million in 2020, only to see that number get hammered last year, according to an analysis by IMF.
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Mortgage lenders are trying to cut costs as quickly as possible as originations evaporate. Only so many companies can survive a much smaller market, turning the business into a game of musical chairs.
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The Federal Housing Finance Agency’s analysis of the Federal Home Loan Bank system includes a review of eligibility requirements for membership.
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Big banks boosted their appetite for jumbo mortgages in the past decade thanks to regulatory changes following the 2008 financial crisis, according to a new finding from the Federal Reserve Bank of New York.
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A handful of mortgage lenders in recent months have rolled out special purpose credit programs targeting Black and Hispanic communities in specific locations.
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The mortgage industry is facing challenging times, thanks, in part, to the Fed’s constant rate hikes. Fighting inflation is a laudable goal but lenders wonder how badly the housing-finance system might be damaged.
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