With interest rates on mortgages set to come down, some lenders are looking to quickly adopt tech to help with originations. Blend Labs is seeing lenders use more of the tech vendor’s products and an automated refi offering is on the way.

Originations increased across mortgage products in the second quarter. The conventional-conforming sector’s market share held steady while government-insured lending lost some share. (Includes data tables.)

Originations of non-agency jumbo mortgages increased by nearly 60% on a sequential basis in the second quarter. (Includes data table.)

Refis are poised to increase and MSR values will decline as interest rates decline. United Wholesale Mortgage is prepared for the moment, having sold off a significant amount of MSRs earlier this year.

Lenders and servicers have made significant investments in recapture capabilities in recent years for when interest rates decline and refinancing takes flight.

Mortgage production at the midway point was up a scant 4.1% compared with the first half of 2023. Originations increased sharply on a sequential basis in the second quarter due to a seasonal trend. (Includes two data tables.)

Big banks increased their mortgage originations in the second quarter. But halfway through the year, volume is down at many of the banks.

Despite inventory challenges, officials at Flagstar are hopeful that an expected rate cut will help boost mortgage originations.

SoFi expects to see further growth in its share of mortgage originations due to the acquisition of Wyndham Capital Mortgage, which provided SoFi with mortgage fulfillment processes.

Many large nonbank mortgage lenders increased production by double digits during the first quarter of 2024 while total originations were up only 3.2% from the fourth quarter. (Includes data table.)