A group of 13 publicly traded nonbank lenders reported a combined $2.20 billion in mortgage-banking income for the second quarter, down 32.3% from the first quarter. (Includes data table.)
Daniel Lewis, the new interim CEO of Better Home & Finance, wants the company to focus on “very select ideas that have a demonstrated product market fit.”
The new housing law’s restriction on large institutional investors’ ability to purchase single-family homes could boost demand for investment-property mortgages from mom-and-pop investors.
Pending changes to bank capital requirements are unlikely to move depositories further into the mortgage lending space but could provide some additional flexibility to banks moving forward, according to Kroll Bond Rating Agency.
An Urban Institute study shows that the internal rate of return of a downpayment on a home often exceeds that of a diversified stock portfolio, especially in low-growth real estate markets.