The volume of mortgages classified as held for sale at banks and thrifts ticked up in the first quarter, ending a long decline. Loan sales by banks also outpaced originations of mortgages intended for sale. (Includes two data charts.)
CrossCountry, Guild offering downpayment assistance; majority of loan originators living paycheck to paycheck; legislation would limit trigger lead activity; and more.
Originations were down in the first quarter, but gain-on-sale margins improved. Having a hand in the servicing business helped some firms turn a profit.
Banks with higher IT expenditures are significantly less likely to reject the applications of borrowers that are observably riskier, according to new research.
Expanded use of bid-tape AOT transactions and mandatory mortgage deliveries increase lender efficiencies and boost profits, according to hedge consultancy Mortgage Capital Trading.
Borrowers with certain fixed-rate mortgages from Navy Federal Credit Union can now have their interest rate lowered when rates offered by the lender decline. No refi necessary, only a $250 fee.
The share of consumers surveyed by Fannie Mae in May who said now is a good time to buy a home decreased by 4 percentage points from April, while the share of respondents who said now is a good time to sell increased by 3 percentage points.
Rate locks decline; MISMO launches latest reference model; CFPB warns on the use of chatbots; Chase to pay mortgage seekers to shop with the bank; mortgage market losing share to cash buyers; data breaches lead to increase in denial of mortgage credit.
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