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.

The profit picture is improving at many shops, but a discernible increase in originations will be needed before the industry can breathe easier.

Former Sprout Mortgage CEO Michael Strauss is avoiding the residential market following regulatory scrutiny in Illinois.

When nonbanks hurt, their warehouse lenders hurt too, though in different ways. A sharp reduction in mortgage originations — with no interest rate relief in sight — is causing a handful of bankers to quit the space.

Lower benefits for credit losses and an adverse decision in court undercut slight increases in revenues for Fannie Mae and Freddie Mac.

A hearing of the Federal Financial Institutions Examination Council’s Appraisal Subcommittee covered gaps in appraisal training and the lack of appraisers in rural areas.

Mr. Cooper is working on an MSR fund with institutional investors, with plans for the nonbank to handle subservicing, while Rithm Capital is still planning a spinoff of its mortgage unit despite the tough market.