loanDepot will launch a new white-label home equity line of credit product powered by Figure that can provide homeowners an equity payout in as little as five days.
Earnings reports from public companies showed gains in production-related and servicing income during the fourth quarter, but the broader MBA performance study found declines on both sides of the business. (Includes data tables.)
The lender’s gain-on-sale margin increased from 1.14% in the third quarter to 1.50% in the fourth quarter, with a rise in originations to boot. Leaders at the company cautioned that some lenders are gaining market share at the expense of earnings.
FASB looking at held-to-maturity hedging; NAIC proposes looser risk-based capital standard for mortgages held by life insurance companies; Better turns to new source of financing; Oregon bank to stop offering mortgages.
Mortgage executives believe reverse-mortgage products are a valuable tool to boost originations as the average age of homeowners is increasing and more seniors are looking for ways to take advantage of the equity in their homes.
Onity takes $120.0 million deferred tax asset valuation allowance; income/employment defects rise; Sagent launches servicing platform; AI company rescinds link to Intercontinental Exchange.
Researchers at the FRB of Richmond demonstrate how banks that gain local market share by acquiring an existing bank are likely to decrease FHA lending even while increasing conventional lending.
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