Single-family mortgage securitization by the GSEs declined by 9.7% on a monthly basis in July, with refinance business down sharply. (Includes two data tables.)
Rocket Mortgage is leaning on artificial intelligence to improve lending efficiency. The nonbank is wrapping up its acquisition of Mr. Cooper and already seeing benefits from its acquisition of Redfin.
Although total GSE servicing remained almost unchanged as of the end of the second quarter, some large servicers — mostly nonbanks — experienced disproportionate year-over-year gains in volume. (Includes two data tables.)
Deliveries to Fannie and Freddie rose last month even as the GSEs’ market share is the lowest since the global financial crisis. (Includes two data tables.)
Mortgage loan acquisitions by Fannie Mae and Freddie Mac accelerated in April, driven in part by a jump in refinance lending. (Includes two data tables.)
United Wholesale Mortgage plans to continue to grow organically, making investments in technology. The nonbank took a large loss in the first quarter as values of mortgage servicing rights declined.