Most lenders reported rising production volume, but shrinking margins ate into bottom-line profitability. Servicing results depended on how successful the firms were in hedging MSR. (Includes data table.)

With interest rates on mortgages set to come down, some lenders are looking to quickly adopt tech to help with originations. Blend Labs is seeing lenders use more of the tech vendor’s products and an automated refi offering is on the way.

JPMorgan Chase reported a hefty gain in mortgage-banking income during the second quarter, but most banks saw declines as gain-on-sale margins declined. (Includes data table.)

Rocket is turning profits again after taking a loss in 2023. Now the lender is working to regain the market share it lost, using various strategies for both purchase mortgages and refinances.

In some parts of the country, the giant home builder shelled out incentives of as much as $81,700 per home delivered, most of that in the form of interest rate buydowns.

Locks declined in June but, when controlling for the difference in business days compared with May, the decline vanishes; Fitch downgraded its long-term issuer default rating on Finance of America Companies to C; talent management topped cost cutting in Fannie’s latest survey of mortgage execs’ priorities; MISMO forms group focused on AI.

Mortgage-banking income at banks and thrifts went up 27.8% in the first quarter of 2024 compared with the previous quarter. Trends were far from uniform among the major players. (Includes data table.)

A handful of heavy hitters in the nonbank mortgage world recovered from significant losses in the fourth quarter with solid profits in early 2024. GOS margins were mostly up, along with production volume. (Includes data table.)

Publicly traded banks reported a 21% increase in mortgage-banking income during the first quarter of 2024. Improving gain-on-sale margins accounted for much of the increase. (Includes data table.)

Philadelphia-based Republic Bank focused its mortgage production on jumbos with below-market rates. The bank also held agency MBS that lost value as interest rates increased.