Impac's CEO said the first quarter of 2022 introduced "increased volatility and heightened market awareness of non-transitory inflation, and credit and liquidity risk brought on by geopolitical events."
Banks and thrifts reported a 10.6% sequential increase in the volume of mortgages they repurchased in the fourth quarter of 2021. But for the full year, buybacks trended down. (Includes data chart.)
Finance of America had more than $1 billion of goodwill at the end of September. In the fourth quarter, the company determined its stock price was too low to recognize the benefit, prompting a massive loss.
Analysts at Fannie Mae looked at 14 components that go into the cost of purchasing a home, along with ongoing expenses. Costs related to the mortgage accounted for roughly 30% of the overall cost.
Maintaining contact with potential borrowers through Truebill could lower the lender’s cost to acquire consumers, according to Rocket Mortgage CEO Jay Farner.
JPMorgan Chase has pledged $12 million over the next three years to help five nonprofits test how to increase homebuying and wealth building among Black, Hispanic and Latino households.