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Home » Topics » IMFnews » Originations

Originations
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Mortgage Income at Banks Drops in Fourth Quarter

February 28, 2024
Andras Malatinszky
Banks' income from mortgage banking operations declined by 24.6% in the fourth quarter.
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MSR Fair Values Drive Loss at UWM in Fourth Quarter

February 28, 2024
Brandon Ivey
UWM's margins declined slightly in the fourth quarter but, for the full year in 2023, were well above the level seen in 2022.
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Short Takes: Cyber Attack to Cost loanDepot at Least $12 Million / Mortgage Applications Decline / Home Prices Up in December / Sales of New Homes Increase / Pretium Sells a Stake

February 28, 2024
Brandon Ivey
Insurance won't fully cover loanDepot's expenses from a cyberattack that occurred in January.
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GSE Conservatorship Not Expected to End Anytime Soon

February 27, 2024
James Dohnert
Despite underlying issues with the mortgage market, the FHFA's conservatorship over Fannie Mae and Freddie Mac looks unlikely to end.
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CFPB Officials Scrutinize Appraisal Foundation

February 27, 2024
Shannon Clark
CFPB officials directed critical questions at Appraisal Foundation President David Bunton during a recent hearing by the Federal Financial Institutions Examination Council’s Appraisal Subcommittee.
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MSR Fair Value Changes Prompt Loss for Ocwen

February 27, 2024
Brandon Ivey
Disregarding changes in MSR values, Ocwen's servicing business was profitable in 2023 while the nonbank's origination business broke even.
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First-Time Homebuyer Share Increases in Agency Market

February 26, 2024
John Bancroft
The agencies securitized a combined $439.25 billion of first-time buyer loans in 2023, which represented 52.8% of agency purchase-loan business.
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Bank CRT Activity Expected to Increase

February 26, 2024
Brandon Ivey
To this point, the deals have been more frequent in Europe than in the U.S.
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Rocket Reports Losses for 4Q, 2023

February 23, 2024
James Dohnert
Rocket Companies reported a net income loss of $232.6 million in the fourth quarter of 2023.
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Short Takes: Rithm Markets Non-QM MBS / Fannie Mae Hires COO / CrossCountry Launches CashPlus / Interest Rates Projected to Fall Below 6% This Year

February 23, 2024
James Dohnert
Fannie's new operations head comes from Morgan Stanley...
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