Joe Garrett: “Companies that don’t seem to get too agitated about the occasional loss, and we’ve seen too many of them, seem to have more and larger losses than those companies that are obsessive about not losing money.”
One bit of positive news: the company marked up the asset value of its MSRs by a stunning $1.44 billion to $4.31 billion, a 50.3% sequential improvement.
A diverse group of 21 commercial banks and savings institutions reported $3.75 billion of mortgage-banking income for 1Q21, a 1.7% improvement from the fourth quarter.