Is the worst of the mortgage downturn over? Probably not but there appears to be some improvement. Now, if only interest rates would cooperate.

Phoenix Capital is out with another auction notice on mortgage servicing rights...

The jumbo sector lost some market share in the fourth quarter of 2022. Banks are tightening underwriting standards and seeing diminished demand for the products. (Includes data chart.)

Bulk servicing packages continue to hit the open market as the first quarter draws to a close. Meanwhile, Mr. Cooper puts a number on its 2022 layoffs, burying the disclosure in an SEC filing: 1,200.

Management shelled out $23 million during 4Q to cover severance payments to laid off workers and for property consolidation.

Rising interest rates and financial volatility battered the non-QM market in 2022. This year almost has to be better by default, according to industry participants.

Government-insured lending looked almost alive in comparison...

In a surprise move, loanDepot Executive Chair Anthony Hsieh has stepped down, though he remains as chairman. What’s clear: The LD founder is not a happy camper, as insiders sell stock and the firm’s fortunes fade.

Commercial banks continue to look sideways at the residential lending business, wondering why they should be in it at all. Some are getting out while others are scaling back significantly.

Mortgage executive Chrissi Rhea: "I’m looking forward to 2023 because it can’t be as bad as 2022."