United Wholesale Mortgage Recovers From Loss in 1Q August 9, 2023 Brandon Ivey Much of the reversal in UWM’s earnings in the second quarter was tied to changes in the value of mortgage servicing rights.Read More
Losses Narrow at loanDepot in Second Quarter August 9, 2023 Paul Muolo CEO Frank Martell warned loanDepot will continue to “aggressively” reduce costs, a likely nod to additional layoffs.Read More
Short Takes: Elevated Interest Rates for FHA / Loss for FoA / WAMC Goes with AGMIT August 9, 2023 Brandon Ivey Interest rates on FHA mortgages are at levels last seen in 2002.Read More
Mortgage Profits at Banks Increase in Second Quarter August 8, 2023 John Bancroft JPMorgan Chase led the industry with $274.0 million in mortgage fees and related income, a 22.9% boost from the first quarter.Read More
Angel Oak's REIT Takes Loss in Second Quarter August 8, 2023 James Dohnert Angel Oak's REIT posted a $3.6 million loss after reporting a small profit to start the year.Read More
GSEs Adjust Guidelines on Tax Liens, Appraisals August 8, 2023 Dennis Hollier Freddie Mac stated that the borrower’s debt-payment-to-income ratio must be calculated based on the payment plan established with the IRS.Read More
Short Takes: Mortgage Fair Housing Complaints Decline / Fewer Cash-Out Offerings / Plenty of Equity August 8, 2023 Brandon Ivey The National Fair Housing Alliance tracks complaints from fair housing organizations and government agencies.Read More
Rocket Returns to Profitability in Second Quarter August 4, 2023 Brandon Ivey The nonbank saw an improvement in margins and sold servicing during the second quarter.Read More
Servicing Props Up Guild’s Earnings in Second Quarter August 4, 2023 Brandon Ivey Lending remained unprofitable for the nonbank in the second quarter.Read More
Velocity Stays Profitable as Loan Portfolio Grows August 4, 2023 James Dohnert Business-purpose lender, Velocity Financial, grew its loan production by 19.2% in the second quarter of this year.Read More
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