Correspondent production was the only channel to post a gain in the third quarter, and competition appeared to be heating up. (Includes six data tables.)
The MBA and others are pushing for federal regulators to go back to the drawing board on capital requirements for large banks. The regulators state that they will be flexible but defend the proposal.
As promised, CMG is once again adding to its retail branch network, this time in New England, thanks to its onboarding of staff from Shamrock Home Loans.
Hometown Lenders is in default on its warehouse lines, a new lawsuit alleges. Not only is the lender in trouble but so is its CEO/owner, who gave his personal guarantees on the loans.
Originations of jumbo and expanded-credit mortgages fell 7% from the second to the third quarter, more than double the rate of decline in agency production. (Includes two data tables.)
It’s never good news when companies see their share price break the buck. Better.com and Finance of America are facing that prospect. The big question: How much time do they have left to right the ship?
Even though machine learning and other forms of artificial intelligence have made the mortgage industry much more efficient, experts are less optimistic it can reduce racial inequity in the system.
New guidance from the Financial Stability Oversight Council makes it easier for FSOC to increase regulatory requirements for large nonbank financial companies. The move doesn’t sit well with the mortgage industry.
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