Prior to the second quarter of 2024, lenders participating in the MBA survey posted losses, on average, for eight consecutive quarters.

“The economy is not sending any signals that we need to be in a hurry to lower rates,” said Federal Reserve Chair Jerome Powell.

CSBS is reminding MLOs of their yearly continuing education requirements in the midst of the annual renewal season.

Splitero received a $300 million investment from funds managed by Antarctica Capital, a private-equity firm.

Among LOs that knowingly use AI, the most cited use was for marketing efforts.

The loss was largely from a negative $878.3 million change in the fair value of mortgage servicing rights.

Officials at the nonbank said they’re “managing towards profitability in the midterm.”

There was little movement in applications for purchase mortgages or refinances last week.

Fannie Mae had the biggest monthly gain in total production among the three agencies, which raised its share of agency MBS issuance in October two percentage points to 27.3%.

The uptick bucked a seasonal trend, as locks for purchase mortgages typically decline each month after spring.