Depositories grew their first-lien portfolios during the third quarter. JPMorgan was the only bank among the top 10 to report a sequential decline. (Includes data chart.)
A recent ruling by a California appeals court tied to default interest charges by lenders and servicers could have national implications, according to industry attorneys.
The model will help stakeholders predict prepayments on both their current portfolios and future purchases for both mortgage-backed securities and whole loans.
If lenders want to set themselves apart in an increasingly competitive purchase market, they will have to become experts in the non-QM space, according to officials at Deephaven Mortgage.
Nonprime servicing portfolios increased by 1.7% in the third quarter and 7.5% year-over-year. Only three of the top-10 players in the sector saw volumes decline from the second to the third quarter. (Includes data chart.
The adjustable-rate mortgage share of total production increased slightly in the third quarter, even though originations of the product drastically declined. (Includes data chart.)
There are still areas in the country where the jumbo market can grow, according to industry analysts. The only concern is if home prices fall as drastically in 2023 as some economists are predicting.