CrossCountry Mortgage owner Ron Leonhardt wants his nonbank to be the largest lender in the land. One way to do that is to buy other shops — and it looks as though CCM has another target in its sights.

Better Mortgage cannot communicate with its underwriters on wage-and-hour issues unless it receives approval from a district court.

The GSEs’ new multifamily loan acquisitions came to just $82.7 billion in the first 10 months of the year. That was down 23.8% from the first 10 months of 2022.

Fannie, Freddie and Ginnie all saw sturdy increases in agency-eligible high-balance loans during the third quarter. The non-agency jumbo market remains significantly bigger, but production fell.

With the cost of credit reports rising, many lenders have begun increasing their use of cheaper soft pulls for borderline borrowers. However, lenders say credit bureaus are raising the price for those as well.

It’s unclear whether loans that have gone into forbearance post-pandemic will be eligible for new repurchase alternatives.

When it comes to warehouse finance of nonbanks, one lender’s exit could be another’s opportunity for future growth, at least that’s what executive Kevin Mitzit of Wintrust is hoping for.

Lenders have launched a variety of products to reduce downpayment costs for GSE-eligible borrowers.

The baseline loan limit for one-unit properties will be $766,550 next year. Home prices are projected to continue to rise in 2024 but the rate of growth is open to debate.

These are humbling times for warehouse firms that finance nonbanks. Commitments are down overall, as are usage rates. Also, it appears that Truist is having second thoughts about lending money to smaller nonbanks. (Includes data table.)