Refinance volume was up across the board in first-quarter agency business, but the sharp spike in VA activity caught the most attention. (Includes three data tables.)
Critics argue the new second mortgage program is another attempt by Freddie Mac to expand its footprint. But GSE insiders say it’s already allowed under its charter.
United Wholesale Mortgage was the largest lender in 2023. Only 19 of the top 100 lenders increased their production during the year. (Includes data table.)
The malaise surrounding residential lending continued in the first quarter. The expectation is that nonbanks will continue to snatch market share from the big boys, but profitability will remain elusive.
Mortgage rates are higher than economists expected them to be because inflation and other data are coming in at unexpected levels. The missed projections aren’t surprising, according to Chase’s Jamie Dimon.
The Mortgage Bankers Association and the Community Home Lenders of America are on opposite sides of the debate about allowing the GSEs to waive the requirement for lender’s title insurance.
Waiting for the Federal Reserve to cut interest rates is a bit like waiting for Godot. It seems as though a cut in rates may never come. Still, there is some improvement in volumes and margins in the non-QM sector.
A dip in United Wholesale Mortgage stock last week, driven by a report from a hedge fund that shorted the nonbank, has raised awareness on the number of mortgage companies that are being shorted.
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