In the first half of 2020, Caliber posted net income of $275.3 million compared to a loss of $59.4 million in the comparable period last year.

As mortgage banking veteran Bill Dallas of Finance of America put it: “This is clearly a unicorn year for the industry — I’ve never seen anything like it.”

In other words, unless forced to, originators don’t need to cut rates to gain customers because they’re swamped...

The April-June cycle marked the first time since the end of 2016 that bank retail lending exceeded wholesale production. Then again, in the call-report world, wholesale includes both loan purchases through correspondent operations and originations involving mortgage brokers.

The impairment rate on non-QM MBS declined by 70 basis points in August even as enhanced unemployment benefits ended in late July.

Fun fact: With correspondent losing share, many small and mid-sized firms began selling directly to the GSEs...

In other words, all that chatter about an end to paper document is overblown.

According to Black Knight, as of Sept. 22, 3.6 million mortgagors were in some type of relief program.

When did the salary inflation start? Back in April — when the COVID-19 pandemic accelerated in the U.S....

The trend of sharply declining repurchases commenced in 2014 as investors and sellers began settling buyback claims on mortgages dating back to before the financial crisis.