A handful of heavy hitters in the nonbank mortgage world recovered from significant losses in the fourth quarter with solid profits in early 2024. GOS margins were mostly up, along with production volume. (Includes data table.)
The volume of mortgages banks service for other entities declined by 2.0% during the first quarter of 2024. Regions Bank was the only depository among the top 10 to increase its servicing. (Includes data table.)
Some 13.8% of the total number of applications for conventional-conforming mortgages submitted last year were denied, compared to 14.3% in 2022. Denials for refinances jumped. (Includes data table.)
The Federal Reserve, FHFA, large banks and the GSEs are all struggling to model the future impact of climate change, both on their specific businesses and on the broader economy.
Income and employment data verification provider Argyle believes verification waterfalls can help lenders save time and money during the loan origination process.
Researchers at the Federal Reserve Bank of New York tracked the recovery of borrowers who foreclosed in 2008 and borrowers with similar characteristics but who did not foreclose.
HUD issues guidance on mortgage advertising; UWM expands title services for brokers; Freedom issues debt; Incenter offers review services for taxes and insurance; most housing inventory in Florida, Texas.
Agency securitizations of correspondent loans were sharply down in the first quarter of 2024 as volume dropped across the board. Refinances made a surprising surge, while credit quality remained unchanged. (Includes two data tables.)
Publicly traded banks reported a 21% increase in mortgage-banking income during the first quarter of 2024. Improving gain-on-sale margins accounted for much of the increase. (Includes data table.)