Firms are building artificial intelligence-based tools for application in various stages of the mortgage process. Compliance concerns abound.

The unsecured debt of several nonbanks continues to trade below par, but in general has held up fairly well. However, not for loanDepot.

Nonbanks are using short-term warehouse funding to their advantage, ramping up capacity when needed and quickly reducing intake when originations dip, an analysis of nonbanks’ financial statements shows.

Since its last long-term authorization expired in 2016, the National Flood Insurance Program has undergone several short-term extensions.

Consumer Financial Protection Bureau Fair Lending Director Patrice Ficklin said the bureau would continue enforcing the Regulation B protections for prospective applicants.

McCargo also suggested the FHLBs could help bring more stability to the Ginnie system...

An effort by big banks to prop up First Republic Bank triggered downgrades by rating services and only temporarily paused the decline in the bank’s share price. The bank is considering various strategic options.

Lenders originating ARMs weren’t able to buck the broader trend of declining originations in the fourth quarter of 2022. Still, on an annual basis, the ARM share nearly doubled in 2022 thanks to rising interest rates. (Includes data chart.)

The bank has been addressing fraud in its non-QM program since late 2019. The cleanup has involved fines, settlements, buybacks and the departure of more than 100 officers and employees.

Holdings of first-lien mortgages at banks and thrifts increased by nearly 10% in 2022. First Republic Bank stood out with a nearly 30% increase. (Includes data chart.)