UWM was the top originator of purchase loans for the first nine months of 2023, while Rocket held the lead in refinance lending. The FHA saw a rising share of purchase loans sold to the agencies in the third quarter. (Includes four data tables.)
Read More
The baseline loan limit for one-unit properties will be $766,550 next year. Home prices are projected to continue to rise in 2024 but the rate of growth is open to debate.
Read More
These are humbling times for warehouse firms that finance nonbanks. Commitments are down overall, as are usage rates. Also, it appears that Truist is having second thoughts about lending money to smaller nonbanks. (Includes data table.)
Read More
The Consumer Financial Protection Bureau’s outline of proposed amendments to the regulation implementing the Fair Credit Reporting Act lacked key details, financial services trade groups said in a joint letter.
Read More
The servicing side of the business continues to be a source of strength for mortgage bankers fortunate enough to own MSRs. Sales have been strong throughout most of 2023, just not as strong as last year.
Read More
Wholesale mortgages accounted for nearly 20% of Citizens Bank’s originations this year. The bank joins many others that have fled the sector following 2008.
Read More
Freedom Mortgage’s Allen Middleman has been named chair of the National Association of Mortgage Brokers’ inaugural board of governors that will advise the group on opportunities regarding outreach programs and policy issues.
Read More