In a statement, bank CEO Charlie Scharf said, “Building an appropriate risk and control infrastructure has been and remains Wells Fargo’s top priority. The OCC’s actions today point to work we must continue to do to address significant, longstanding deficiencies.”

Expanded-credit mortgages, which include non-QMs, accounted for only 0.9% of total first lien mortgage originations in the second quarter of 2021.

One given: Profit margins (gain-on-sale) are still coming under pressure compared to the first quarter as well as last year. But as most everyone readily acknowledges, 2020 was a profit aberration...

Data from agency MBS issued in the second quarter suggest that first-time buyers accounted for just over half of the purchase loans sold to Fannie Mae, Freddie Mac and Ginnie Mae during that period.

Fannie’s findings are based on intelligence from 211 senior executives at 192 shops. Roughly 50 of those lenders are considered "larger," which means they funded $2.25 billion or more in the last full calendar year...

However, year-to-date mortgage banking income was up 46.0% from the first six months of 2020.

And while repurchase activity still represents a small portion of Fannie and Freddie business, 2021 is shaping up as the biggest year for seller buybacks since 2014.

MBA, like many trade groups, was forced to cancel the in-person portion of all shows dating from the spring of 2020...

In the broker segment, new hiring for the month improved by 3,200 heads to 124,800. Both the banker and broker readings represent 10-year highs and then some.

The deal marks the first warehouse financing securitization to include non-QMs as eligible collateral.