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.
A diverse group of bank and nonbank lenders eked out a modest $375 million in originations and secondary marketing income during the fourth quarter, down 67% from the prior period. The MBA said only one in four lenders turned a profit in the final three months of 2022. (Includes data chart.)
Three regional banks failed recently due partly to interest-rate risk. To avoid the same fate, mortgage companies of all stripes are being pushed to give up some profits to manage interest-rate risk.