Mortgage repurchases and indemnifications by banks and thrifts declined 22.6% from the second to the third quarter, and repurchase reserves fell to their lowest level ever. (Includes data chart.)
Findings by HUD that mortgages with DPA perform worse than other loans fail to include important controls, according to research published by the St. Louis Fed. In other words, downpayment assistance loans aren't so risky after all.
Freddie repurchase activity continued to be disproportionately high in the third quarter, though GSE buybacks and the pipeline of unresolved cases fell slightly. (Includes two data charts.)
TD Bank led the lending pack in terms of sequential growth in the third quarter: 76.2%, according to a new Inside Mortgage Trends ranking. Could this mark a sea change for banks in mortgages? Probably not. (Includes data chart.)
Nonbank mortgage lenders and depositories live in a different world. Right? Yes and no. Inside Mortgage Trends ranks the top 20 home lenders by institution type. (Includes two data charts.)
Steven Stallard, owner of Insight One companies, launched a new specialty firm to provide targeted recovery, component servicing, legal, back-office and outsourcing services to mortgage lenders and servicers.
Average home insurance premiums have risen in every state in the last decade largely due to the increased frequency and severity of natural disasters, a study by LendingTree’s QuoteWizards found.
Loan workout applications on the whole have improved, though new servicer metrics introduced by Fitch in the third quarter are showing some disparity in completion rates.
Some lenders that were looking to throw in the towel after a rough first quarter experienced strong originations and returned to profitability as interest rates fell, putting the brakes on M&A activity.
Mortgage fintech lender Better.com plans to hire veterans and military spouses and recently closed on Series C funding. Other mortgage startups are also in a capital-raising mode.
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