Philadelphia-based Republic Bank focused its mortgage production on jumbos with below-market rates. The bank also held agency MBS that lost value as interest rates increased.
A new research paper finds that mergers between real estate agencies and lenders can help boost origination market share but can also cost borrowers more in the long run.
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.
The company estimates mortgage technology segment revenue growth in the low to mid-single-digit range this year. The segment boosted revenue by 17% in 2023.
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.
California is set to become the 45th state to allow remote online notarizations for real estate transactions; LOs available 24/7 at Guaranteed Rate; empathetic lenders slow to cut staff; former Black Knight units rebrand as Dark Matter Technologies; Incenter boosts corporate staff; warehouse lending system moves to the cloud.
High interest rates are cutting into demand for mortgages; many consumers’ expectations for interest rates are wrong; ICE and Black Knight move close to merger; servicer using blockchain, lender guarantees underwriting results from AI; Flagstar’s mortgage tech accelerator; mortgage payoff fraud attempts increase.
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