Mortgage Profits at Banks Increase in Second Quarter August 8, 2023 John Bancroft JPMorgan Chase led the industry with $274.0 million in mortgage fees and related income, a 22.9% boost from the first quarter.Read More
Angel Oak's REIT Takes Loss in Second Quarter August 8, 2023 James Dohnert Angel Oak's REIT posted a $3.6 million loss after reporting a small profit to start the year.Read More
GSEs Adjust Guidelines on Tax Liens, Appraisals August 8, 2023 Dennis Hollier Freddie Mac stated that the borrower’s debt-payment-to-income ratio must be calculated based on the payment plan established with the IRS.Read More
Short Takes: Mortgage Fair Housing Complaints Decline / Fewer Cash-Out Offerings / Plenty of Equity August 8, 2023 Brandon Ivey The National Fair Housing Alliance tracks complaints from fair housing organizations and government agencies.Read More
AGMIT Reports 2Q Earnings Amid WAMC Acquisition Talks August 7, 2023 James Dohnert As AGMIT continues its talks to acquire WAMC, the company reported a modest profit for the second quarter...Read More
Chase Tops Servicers in Second Quarter August 4, 2023 John Bancroft Wells Fargo sold off servicing in the second quarter while Chase added to its portfolio.Read More
Rocket Returns to Profitability in Second Quarter August 4, 2023 Brandon Ivey The nonbank saw an improvement in margins and sold servicing during the second quarter.Read More
Servicing Props Up Guild’s Earnings in Second Quarter August 4, 2023 Brandon Ivey Lending remained unprofitable for the nonbank in the second quarter.Read More
Velocity Stays Profitable as Loan Portfolio Grows August 4, 2023 James Dohnert Business-purpose lender, Velocity Financial, grew its loan production by 19.2% in the second quarter of this year.Read More
Short Takes: Fallout From Fitch’s Downgrade: Higher Interest Rates and GSE CRT Ratings / Somewhat Older Loans in Non-Agency MBS August 4, 2023 Brandon Ivey Fitch's downgrade of its rating for the U.S. influenced interest rates on mortgages and had ramifications for GSE CRT.Read More
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