Despite lackluster new origination volume in the third quarter, most nonbanks reported solid gains in production-related income. Many of them needed it to offset sharp declines in servicing income. (Includes data table.)
Pennymac asked the Financial Accounting Standards Board to clarify accounting practices involving mortgage servicing rights and recapture assumptions. The effort has support from some major MSR buyers who are looking for a level playing field.
After originating HELOCs on its own as a proof-of-concept, Figure Technology Solutions is now largely facilitating originations and loan sales for others, charging fees along the way. The company generated $89.8 million of net income in the third quarter.
Although most of the large banks reported substantial increases in mortgage-banking income, many mid-size institutions struggled in the third quarter. (Includes data table.)
Primis Bank, SmartBank, Bank7 and other smaller banks are touting efforts to increase their mortgage lending. Meanwhile, some banks continue to pull back from the sector.
Banks and thrifts reported a slight decline in their income from mortgage-banking activities in the second quarter, according to new call-report data. (Includes data table.)
Several top nonbank lenders took significant writedowns on MSR during the second quarter, but the damage was less severe than in the previous period. Meanwhile, production-related income was up. (Includes data table.)
Bilt is a payments platform that offers rewards to consumers. The company recently received a $100 million investment from United Wholesale Mortgage at a valuation of $10.75 billion.
Production-related income rose smartly for most banks in the second quarter of 2025 but generally didn’t keep pace with higher originations volume. Results were mixed on the servicing side. (Includes data table.)
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