Originations of home equity loans declined in the fourth quarter as interest rates increased. Though HELOCs still dominate home equity production, closed-end second liens gained share in 2023. (Includes three data tables.)
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The National Association of Realtors’ recent settlement could prompt a decline in the commission of a homebuyer’s real estate agent. The change could put pressure on both homebuyers and lenders.
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Vendors that ply their trade in the subservicing arena aren’t growing very quickly these days, though there are exceptions. Meanwhile, M&A activity has resulted in some attrition and more could be on the way. (Includes data table.)
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CFPB Director Rohit Chopra detailed a number of concerns regarding the Appraisal Foundation. The foundation’s president defended the organization.
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Employee count increased at United Wholesale Mortgage in 2023, while at Rocket Companies it was down 20.5% on an annual basis. (Includes data table.)
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Statements by President Biden indicate that, if he is re-elected, reducing housing costs will be a priority for the administration. If Trump returns, the regulatory environment is likely to be accommodative for lenders.
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What would mortgage bankers do if they didn’t have a massive reservoir of mortgage servicing rights to rely on during difficult times? Best not to think about it. But the good news is that servicing values remain strong.
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Don Layton applauded FHFA’s plans to reform the FHLBanks, arguing that it will take strong, independent supervision to prevent them from exploiting their government subsidy for private gain.
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