Vishal Garg’s mortgage fintech Better originally thought it would be a public company by yearend. But now? Stay tuned.

The failure of Zillow’s algorithm to provide reliable forecasts of home price changes could mean the GSEs’ automated valuation models are also suspect. Really?

The fix-and-flip market is starting to look a little long in the tooth. Right? Maybe for some corporate investors. But for originators of these short-term loans, the grass still looks green.

A report by Fitch Ratings forecasts a sharp drop in originations and declining GOS margins that will put pressure on earnings for smaller nonbank lenders.

Loan officers’ commissions decreased 17% year-over-year during the third quarter, driven by a hefty 37% drop in refinance commissions.

Almost across the board, origination profitability improved in the July-September period, but some lenders remain nervous and a shake-up could be coming as 2022 approaches.

Community Reinvestment Act requirements that traditionally have only applied to depositories will be imposed on nonbanks in New York. The MBA warned that the standards are “unworkable.”

Additional nonbanks could tap the debt market in the months ahead. The reason: rising asset valuations on mortgage servicing portfolios.

The thirst for mortgage servicing rights continues, be it bulk or flow. Meanwhile, Zillow’s foray into fix-and-flip did not end well.

While agency market trends weakened in the third quarter, non-agency production likely continued to gain share. Rocket Mortgage, PennyMac and United Wholesale Mortgage remained the top producers, but several banks reported strong quarterly gains. (Includes two data charts.)