Brokers gained market share across all three lending sectors in the first quarter. The biggest gain was in the government-insured lending market. (Includes two data tables.)
Retail originations by banks and thrifts typically decline on a quarterly basis in the first quarter of a year, a trend that continued in 2024. However, retail lending was up compared with the first quarter of 2023. (Includes two data tables.)
Agency securitizations of correspondent loans were sharply down in the first quarter of 2024 as volume dropped across the board. Refinances made a surprising surge, while credit quality remained unchanged. (Includes two data tables.)
While overall correspondent sales to unaffiliated non-agency buyers declined in 2023, Veterans United increased its sales volume. (Includes data table.)
Figure Technology Solutions is offering its Digital Asset Registration Technologies registry to partners of Figure Lending to use for home equity lines of credit.
A deep dive into closing costs by the JPMorgan Chase Institute found that borrowers pay more in closing cost fees when leaning on brokers and nonbank lenders for mortgage financing.
Flexible nonbanks weathering the storm; layoffs continue at mortgage companies; tepid demand for mortgages on new homes; best execution analysis; Rocket preps AI offering; Equifax boosts mortgage-related revenue.
The retail channel lost some ground across all three loan product categories. In the conventional-conforming market, the retail share went from 38.8% in the third quarter to 38.2% in the fourth quarter. (Includes two data tables.)
Two large nonbank retail lenders took losses in the fourth quarter, with officials stressing that better days are ahead. Guild is growing through M&A while loanDepot is reducing its staffing.
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