loanDepot cites faults in wholesale channel; rate locks decline in July; foreclosure activity also down; MISMO seeking comments on various initiatives.

Some banks are partnering with Rocket Mortgage on originations. Rocket said banks are having a hard time competing with the nonbank.

With limited demand for refinancing, lenders are peddling other products. While nonbanks are offering home-equity loans, some lenders are selling mortgages with a reduced-fee refi option down the road.

Non-agency lenders looking to sell mortgages with lower interest rates only have whole-loan sales as an outlet as MBS investors wait for new originations.

First Republic increased its originations for the second consecutive quarter thanks to a focus on jumbos. The bank puts an emphasis on customer service and benefits from having a portfolio to hold mortgages.

Since December, interest rates have increased on both non-agency jumbos and conventional-conforming mortgages. But rates have increased by a lower amount on jumbos thanks to demand for the loans at banks.

Mortgage originations down at big banks in second quarter; Better does worse in first quarter; loanDepot downsizing; foreclosure activity ramping up; MISMO remains busy.

FHA has extended appraisal validity periods, in some cases up to a year, to align more closely with standards at the GSEs and VA.

Lagging data aggregated from counties provides some new insight into trends in jumbo originations in the first quarter of 2022.

Fix-and-flip lending recovered in 2021 from a pandemic-led slowdown the previous year. Originations of short-term loans shot up nearly 75% on an annual basis. (Includes data chart.)