Originations were down in the first quarter, but gain-on-sale margins improved. Having a hand in the servicing business helped some firms turn a profit.

Mortgage-banking income at banks and thrifts increased by 36% in the first three months of 2023. Still, earnings were below the levels seen in the first quarter of last year.

Banks with higher IT expenditures are significantly less likely to reject the applications of borrowers that are observably riskier, according to new research.

Rocket, UWM offer low-downpayment products; CFPB finds sharp differences in loan pricing; servicing profits improve; timing for recession unclear; quantifying the refi boom; Freddie improves paystub analysis; Blend offers soft credit pulls; MISMO seeks comments on closing standards; Maxwell acquires capital markets provider; fractional homeownership.

The nonbank plans to use artificial intelligence in an effort to sharply reduce expenses from its call center operations.

The Fed’s massive increase in interest rates has lowered the value of 20-year-plus Treasuries by 30%, according to NBER economists.

Interplay between debt ceiling and mortgage interest rates; mortgage employment declines; rate locks down; Rithm considers spin-off; Planet Financial looking for lenders; new LO recruiting software; Blend’s market share grows; Black Knight’s margins; new appraisal marketplace; MISMO requests for comment.

The value of a median-priced home has appreciated by $190,000 over the past 10 years, the National Association of Realtors said in a report this month.

Profitability outlook; Fitch downgrades Home Point’s corporate ratings; UWM aims to limit trigger leads; New American Funding looking for joint ventures; new initiatives at MISMO.

The San Diego-based capital markets advisor’s white paper walks originators through the theory of pipeline hedging.