The increase was driven by refinances, particularly VA refis.

ARMs accounted for 14.3% of total originations last year, up from a 13.8% share in 2022.

MBA said lenders were unable to "sufficiently adjust resources to align with fluctuating rates and volumes"...

Banks, thrifts and credit unions ended the year with $3.551 trillion of unsecuritized home loans on their books, a gain of 0.8% from the third quarter.

NAR's settlement essentially eliminates the requirement for home sellers to pay a fee to the homebuyer's real estate agent.

Retail mortgage originations by banks and thrifts declined by 16.6% in the fourth quarter.

Outstanding advances were down for the year after a surge in the first quarter.

Companywide, revenue last year came in at $974.0 million, down 22.3% from 2022.

Earnings from mortgage banking declined by 60.2% among 14 publicly traded nonbanks in the fourth quarter.

The top three MBS issuers in February: UWM, PennyMac and Rocket Mortgage.