BofA’s mortgage originations are more heavily weighted toward jumbos compared with other large banks.

Treasury wants the banks to double their contributions to affordable housing programs and to use their excess retained earnings to support more housing development.

Maxex said the new guidelines should reduce the number of sales stymied by loan conditions and establish faster turn times for sales.

PNC's margin on mortgage production declined from 1.96% in the second quarter of 2024 to 1.45% in the third quarter.

Wells originated $5.5 billion of mortgages through the retail channel in the third quarter of 2024, down 14.1% from the third quarter of 2023.

FHA issued an extensive FAQ document late last week, addressing questions about guidance with an Oct. 31 implementation date for reconsiderations of value.

Residential funders employed 184,000 full-timers at the end of August, down 12,600 from August 2023.

An affiliate of Radian Group is marketing its second jumbo MBS.

Originations increased at Chase and Wells in the third quarter though production revenue was down.

Kristen Clarke, assistant attorney general in the DOJ’s civil rights division, said the settlement shows that the DOJ intends to hold “all types of lenders accountable for their role in modern-day redlining.”