Correspondent production was the only channel to post a gain in the third quarter, and competition appeared to be heating up. (Includes six data tables.)
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The MBA and others are pushing for federal regulators to go back to the drawing board on capital requirements for large banks. The regulators state that they will be flexible but defend the proposal.
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When interest rates were low, escrow accounts were an afterthought in terms of MSR values. Now that interest rates are elevated, banks are seeing strong earnings from funds held in escrow accounts.
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As promised, CMG is once again adding to its retail branch network, this time in New England, thanks to its onboarding of staff from Shamrock Home Loans.
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Hometown Lenders is in default on its warehouse lines, a new lawsuit alleges. Not only is the lender in trouble but so is its CEO/owner, who gave his personal guarantees on the loans.
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Rep. Maxine Waters, CA, ranking member of the House Financial Services Committee, wants more federal funding for FEMA flood maps and for the NFIP.
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