Executives at Kind Lending and Paramount Residential Mortgage Group said lenders need to boost staffing levels to be prepared for increased originations this year.

Citizens Bank left the wholesale channel amid weak margins; Mr. Cooper’s cyberattack recovery includes large expenses for borrower services; new leader at broker group; Consolidated Analytics acquires Real Info; customer relationship management tool with artificial intelligence for loan officers.

Banks and thrifts sold $97.37 billion of mortgages during the quarter. Trends varied among the largest banks, with Chase increasing loan sales while U.S. Bank and Wells Fargo sharply reduced their activity. (Includes two data tables.)

The correspondent channel gained a significant chunk of market share from retail in the conventional-conforming market during the third quarter. The broker share stayed steady.

Fed researchers show that, when interest rates increase, refinances decline, but alternative forms of household borrowing increase proportionally. This borrowing substitution diminishes the value of refinances as a path for monetary policy.

Guild’s originations unit swung to profitability in the third quarter even as originations declined. Leaders of the nonbank said strong demand from correspondent buyers prompted changes in models used for calculating the value of lock commitments and mortgages held for sale.

Retail loans gained market share in third-quarter agency securitizations as the refinancing segment crumbled further. Credit quality remained good, and the rising loan sizes have stabilized. (Includes two data tables.)

The broker channel gained market share across the three major mortgage-product categories during the second quarter of 2023. In the conventional-conforming sector, the broker share hit 23.6%. (Includes two data charts.)

Community awareness of and reckoning with systemic racism following the BLM protests in 2020 appears to have led lenders to reduce the interest rate gap between Black and white borrowers.

Agency securitizations saw a healthy rebound in 2Q23 after the bleak results of the previous quarter. Retail production of purchase mortgages drove the recovery. Loan quality also improved. (Includes two data charts.)