Nonbanks remained the driving force in first-lien originations, accounting for 68.4% of aggregate production by the top 100 lenders. (Includes two data charts.)
Faced with a not-so-welcoming IPO market earlier this year, AmeriHome and Caliber Home Loans did the next best thing: The two public-bound nonbanks found willing buyers to pay a decent price. Should Better.com do the same?
Federal regulators provided status updates on several current and pending mortgage-related rulemaking initiatives. But revisions to the qualified-mortgage standards were missing from the CFPB’s agenda.
Better.com’s dream of becoming a public company is on shaky ground these days. Events of the past week include a large layoff conducted over Zoom and the CEO apologizing after making disparaging remarks about those he cut.
Most top lenders reported rising purchase-mortgage business and declining refinance activity in the third quarter. Private MIs lost a little ground in the first-time buyer market. (Includes five data charts.)
The mortgage production cycle is starting to turn, so that means a reduction in headcount. But based on third-quarter results from a handful of public shops, the trimming has been light thus far. (Includes data chart.)