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Home » Topics » IMFnews » Originations

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Mortgage Profitability Declines in Fourth Quarter

March 27, 2024
John Bancroft
Earnings from both originations and servicing took another hit in the fourth quarter of 2023.
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Short Takes: Figure Lending’s Parent Files Confidential IPO Papers / Slow Start to Spring Homebuying Season / Home Price Depreciation in Large Cities / GITSIT (Formerly Kondaur) Wins NPL Auction

March 27, 2024
Brandon Ivey
Figure Technology Solutions filed a confidential S-1 statement.
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Non-HMDA Factors Refute Discrimination Allegations at Navy Federal

March 26, 2024
Brandon Ivey
“Our review found that when all relevant factors are controlled for, which CNN did not do, the difference in approval rates between Black and White borrowers falls to less than 1%,” said Debo Adegbile, a partner at the law firm of WilmerHale who was hired by Navy Federal to complete the review.
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State Regulators to Move Forward on Mortgage Reporting Overhaul

March 26, 2024
Shannon Clark
CSBS stressed that it develops and maintains the National Multistate Licensing System required by the statutory authority of the Secure and Fair Enforcement for Mortgage Licensing Act.
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Short Takes: Home Prices Decline / Sales of New Homes Slow / Renting Cheaper Than Buying / Non-QM Delinquencies Increasing

March 26, 2024
Brandon Ivey
The monthly decline in home prices in January was the first decline since August 2022.
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Home Equity Lending Declines in 2023; HELOCs Lose Share

March 22, 2024
Brandon Ivey
Closed-end second liens accounted for an estimated 19% of home equity production in 2023, up from a 13% share in 2022.
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CHLA Brings Employment-Verification Costs to Regulators

March 22, 2024
Brandon Ivey
CHLA asked FHFA and FHA to scrutinize employment-verification prices charged by Equifax.
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Short Takes: Sales of Existing Homes Jump / New Listings / Some Breathing Room on CRA Requirements / Retroactive NFIP Provision

March 22, 2024
Brandon Ivey
The sharp increase in existing-home sales in February may just be a blip...
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Frozen Fed Will Place Increased Pressure on Lenders

March 21, 2024
Brandon Ivey
"There are likely several more challenging quarters ahead for mortgage companies," said Eric Orenstein, a senior director at Fitch Ratings.
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Ginnie MBS Issuance Up Nearly 10% in February

March 20, 2024
Brandon Ivey
The increase was driven by refinances, particularly VA refis.
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