Have a personal line of credit with Wells Fargo? Cherish it while you can. The bank is yanking the product by summer’s end.

Sandra Thompson’s elevation to acting director from her role as head of housing mission and goals presaged FHFA’s new focus on fair lending practices enforcement.

The Ohio-based bank is winding down its direct-to-consumer mortgage lending business, citing falling margins and diminished refinances.

For the first time since QM standards took effect in early 2014, lenders can no longer rely on the government-sponsored enterprises to obtain QM status for a loan.

The supply of home-equity debt outstanding in the market continued to fall in the first quarter as new originations of HELOCs and closed-end seconds declined 13%. (Includes three data charts.)

The sale of mortgage franchises is picking up but there’s a headwind tied to valuations. Owners are holding out for top dollar.

The mortgage technology vendor hasn’t been profitable since its inception in 2012 and is forecasting losses going forward.

While nonbanks ranking among the top-100 lenders boosted production by 3.2% in the first quarter, depository institutions posted a 7.9% drop. (Includes two data charts.)

Time to throw away the loss-mitigation toolbox in dealing with COVID-related delinquencies? Maybe not.

Though demand for purchase mortgages is increasing, it is nowhere near levels sufficient to make up for the decline in refi activity, say lenders.