Warehouse finance was a great business to be in the past two years. But with rates rising and primary market originations slipping, all bets are off. The spring homebuying season should bring some relief. (Includes data chart.)
Sales of mortgage servicing rights have been nothing short of stunning the past five quarters. Can the good times last? Yes, if prepayment speeds cooperate.
Overall, mortgage delinquencies at the end of 2021 had returned to levels seen before the pandemic. Serious delinquency rates are elevated compared with the days before the coronavirus. (Includes data chart.)
Institutional investors have forced down the price of mortgage company debt, making it harder for new deals to come to market. But is it the end of the world?
Early reporters of fourth-quarter results are giving the mortgage industry a glimpse of what’s to come for everyone else: weak or negative origination growth. Message: The party can’t last forever.
Banks, thrifts and credit unions reported a modest increase in the untapped HELOC commitments in the third quarter, but homeowners continued to sit on a mountain of untapped equity. (Includes three data charts.)
The mortgage production cycle is starting to turn, so that means a reduction in headcount. But based on third-quarter results from a handful of public shops, the trimming has been light thus far. (Includes data chart.)
Is the great warehouse lending party just about over? It’s starting to feel that way to some managers. Ominous sign: new entrants. (Includes data chart.)
Early-stage delinquencies jumped in the third quarter, prompting a quarterly increase in the total past-due rate. Many borrowers that have been in forbearance for 18 months are also reaching the end of their payment holidays. (Includes data chart.)
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