Despite significant erosion in conventional-conforming and jumbo lending in the third quarter, a few shops managed to boost originations. FHA/VA lending was relatively safer. (Includes two data charts.)
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Mat Ishbia’s UWM now has bragging rights to being the largest home lender in the land. His view on the market: up to 15 more months of tough sledding. As for profit margins, he may have to drive them lower.
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After profiting from soaring home prices the past two years, Fannie and Freddie now have to sock away money as residential values begin to decline.
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The lender is in talks with the Consumer Financial Protection Bureau to resolve several possible violations in its auto lending, mortgage lending and consumer deposit programs. Wells already holds the record for the highest fine issued in connection with a CFPB enforcement action.
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It’s been a roller coaster ride for Finance of America and its shareholders. Rising rates have hammered its business lines and it’s anticipated the company will exit the MSR arena. FoA went public just over 18 months ago.
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UWM’s CEO, a former college basketball player, is contemplating making a bid on the NFL Commanders franchise. Will it come to pass? Meanwhile, one large non-QM shop is ready to make retail cuts.
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