The company estimates mortgage technology segment revenue growth in the low to mid-single-digit range this year. The segment boosted revenue by 17% in 2023.

Declining MSR valuations created problems for bank mortgage operations in the fourth quarter, along with a slowdown in loan originations and sales. (Includes data table.)

Citizens Bank left the wholesale channel amid weak margins; Mr. Cooper’s cyberattack recovery includes large expenses for borrower services; new leader at broker group; Consolidated Analytics acquires Real Info; customer relationship management tool with artificial intelligence for loan officers.

Earnings ticked up in the third quarter, with some large banks posting significant increases in income. Loan sales and markups in mortgage servicing rights played a role in the improved profits.

Blend paid down a portion of a term loan and extended the loan; Capital City Bank faces material weakness in internal controls; Associated Bank adjusts portfolio lending strategy; First American fined for cybersecurity breach; MISMO launches eVault standards; new tech platform for brokers.

Guild’s originations unit swung to profitability in the third quarter even as originations declined. Leaders of the nonbank said strong demand from correspondent buyers prompted changes in models used for calculating the value of lock commitments and mortgages held for sale.

Most nonbank mortgage lenders saw solid earnings gains from the second to the third quarter, although a few still struggled. Homebuilder affiliates as a group were more profitable in the first nine months of 2023 than they were last year. (Includes data table.)

Outlook improves for large nonbanks; tech vendors take losses while increasing market share; rate locks decline; new verification offerings from CoreLogic; LOS provider and servicing tech vendor partner; MISMO seeks comments on engineering guidelines.

JPMorgan remained the top bank in earnings from its mortgage banking operations after a sharp increase in the third quarter. Its nearest rivals, U.S. Bank and Wells Fargo, both reported declining income. (Includes data table.)

Better went from more than 10,000 employees in 2021 to fewer than 900 as of Sept. 1; lenders start early on 2024 loan limits; mortgage lock-in easing; MISMO initiatives; tool to check for appraisal bias; automated title reviews; insurance platform raises funds.