Warehouse providers racked up $137.0 billion of commitments at year end, arming nonbanks with the credit they needed to make a record amount of new loans. A repeat performance in 2021? Probably not, but a good year nonetheless is expected. (Includes data chart.)
Mortgage performance improved across the board during the fourth quarter. However, the forbearance rate has been stagnant since November, leading to concerns about foreclosures when moratoriums on such actions are lifted. (Includes data chart.)
Record loan production translates into record paychecks for CEOs. Right? If there’s an IPO involved, yes, but there are exceptions. (Includes data chart.)
Production records were shattered despite the crushing economic weight of the coronavirus and because of the ensuing nosedive in mortgage interest rates – and the Fed's bottomless appetite for agency securities...
It was that kind of year in 2020: chatter about fat checks for CEO/proprietors. Some may have earned more than the nation’s top athletes but probably less than Oprah.
According to the U.S. Census Bureau, 19.4% of Black borrowers missed or delayed their September mortgage payment. The University of Southern California’s Understanding America Study put the figure at just 5.9%.
Banks continued to retreat from the business of servicing home loans for other investors as nonbanks increased their MBS servicing by 6.6% in the third quarter. (Includes two data charts.)
As originations surge, the mortgage employment picture continues to brighten — that's good news for the rank-and-file but potentially bad news for the C-suite.
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