Publicly held banks reported a 20% decline in mortgage banking income from the second to the third quarter as more firms shift away from the originate-to-sell model. Servicing generally helped offset faltering profits on production and secondary marketing. (Includes data chart.)

Mortgage servicing right markups have allowed several companies to report net profits this year when, absent these non-cash entries, they’d be in the red. But advisors suggest some MSR holders might be pushing the envelope on their valuations.

Implementation of Ginnie’s risk-based capital requirements delayed; Fitch downgrades ratings of Finance of America, Provident; foreclosure starts decline; new alerts in Freddie’s Loan Advisor dashboard; MISMO seeks comments on three proposals; Staircase offers MSR transfer automation; LoanCare launches HELOC servicing; new LO recruitment tool.

Banks and thrifts saw another drop in mortgage banking income in the second quarter of 2022. Trends varied widely among banks, with some big players managing to improve earnings while others falter. (Includes one data chart.)

Many publicly traded mortgage companies remained profitable in the second quarter, though earnings were down sharply. (Includes data chart.)

Institutional investors have driven down the debt prices for several publicly traded nonbanks this year. But some are better off than others.

Publicly traded nonbank mortgage lenders posted sharply lower profits in the second quarter as strong competition cut into margins. Two firms managed to increase mortgage-related income: homebuilders. (Includes data chart.)

Political power distorts how private capital is allocated, even among mortgage lending activities, according to a new study.

Mortgage earnings declined across a group of 24 banks in the second quarter of 2022 as rising interest rates continued to eat into originations and margins. The outlook for the third quarter isn’t great either. (Includes data chart.)

Mortgage originations down at big banks in second quarter; Better does worse in first quarter; loanDepot downsizing; foreclosure activity ramping up; MISMO remains busy.