According to an analysis by Inside Mortgage Finance of data from the Home Mortgage Disclosure Act, Open Mortgage originated $480.9 million of mortgages in 2023, with FHA loans accounting for 38.6% of that volume.

Many lenders are ceasing operations without filing for bankruptcy.

Newfi said it chose Dunmor as a partner because of its technological expertise in the RTL space.

VA stressed that borrowers should still negotiate their buyer-broker fee and that homebuyers can still ask sellers to pay the fees at closing.

Among the top 10 ARM lenders in the January-March corridor, just one was a nonbank: Rocket Mortgage.

The researchers reviewed DOJ settlements with 17 banks and bank affiliates between 2008 and 2017.

Brokers accounted for 19.1% of first-lien originations in the first quarter, up from 17.5% in the previous quarter.

The MBA anticipates that the fed will cut rates in September while some suggest there's a possibility that a rate cut won't occur until 2025.

"Current sentiment reflects pent-up frustration with the overall lack of purchase affordability," said Doug Duncan, a senior vice president and chief economist at Fannie Mae.

“The Biden administration is committed to fostering innovation in the financial sector while ensuring that we protect consumers, investors, and our financial system from risks that new technologies pose,” said Nellie Liang, under secretary for domestic finance at the Treasury.