Two large nonbank retail lenders took losses in the fourth quarter, with officials stressing that better days are ahead. Guild is growing through M&A while loanDepot is reducing its staffing.

Cyberattack will cost loanDepot at least $12 million; average borrower has nearly $300,000 in home equity; home prices overvalued across the country; MSR gain some value; new servicing platform from Sagent; MCT offers TBA pricing indicators; lender launches real estate platform.

A $576.1 million MBS backed by GSE-eligible jumbo mortgages from CalCon Mutual Mortgage helped drive a slight increase in prime non-agency mortgage-backed security issuance in the fourth quarter. (Includes three data tables.)

The lender said it is working with forensic experts and law enforcement to address the cybersecurity incident.

A cyberattack this week forced loanDepot’s servicing portal to go offline and its online loan applications process to stop working.

FHA and VA lenders are gearing up for an uptick in purchase, refinance and renovation loans in the new year.

loanDepot has been building an in-house team of veterans who can provide loan officers with information related to the VA program.

Congress extends NFIP through Feb. 2, 2024; FHA proposes updated home equity conversion mortgage assignment claims eligibility policy; FHA extends waiver on face-to-face interviews with distressed borrowers; VA extends foreclosure moratorium for Hawaii wildfires; HUD OIG reports on HUD’s top management challenges.

Shellpoint Mortgage Servicing handled servicing duties on $3.65 billion of non-agency MBS issued in the third quarter. (Includes data table.)

Tighter margins and a seasonal slowdown in home buying are prompting lenders to consider an exit in the coming months.