The Federal Reserve cut rates by 25 basis points this week, assuring mortgage lenders strong operating conditions in the months ahead. Still, the production outlook is a bit darker for 2020.

The conditions that prompt a cash-out refi differ from those that drive a rate/term refi, research published by the Philadelphia Fed shows.

In January, the origination forecast for 2019 looked bleak but that was before rates began their relentless descent. Today? Optimism abounds with several shops reporting strong lending results for 3Q19.

In its thirst to expand the company’s presence in wholesale lending, Quicken Loans Mortgage Services this week unveiled big hiring plans for Detroit and Charlotte.

The fintech company rolled out a new product to help simplify the pre-approval process for its lender clients.

Relatively low interest rates on mortgages are prompting strong demand from borrowers and higher profit margins for many lenders.

The Office of the Comptroller of the Currency reminded banks of a relatively new regulation that requires larger appraisal management companies to register with states before being able to provide services.

Mortgage lenders posted a net gain of $1,675 per origination in the second quarter, the best quarter the industry has seen since the third quarter of 2016, the Mortgage Bankers Association said in a recent report.

Weighing in on how to fix the qualified mortgage rule, smaller lenders have suggested a higher debt-to-income ratio cap.

Originations are booming but the government’s latest reading on mortgage employment wasn’t exactly encouraging. Still, interviews conducted by Inside Mortgage Trends reveal that many shops are looking to hire.