As nonbanks go, so too goes the warehouse lending sector. Enough said on that score. The second quarter brought additional deterioration in commitment levels. (Includes data chart.)
The top 22 executives at the nation’s publicly traded nonbanks earned a stunning $268 million in 2020, only to see that number get hammered last year, according to an analysis by IMF.
The mortgage industry is facing challenging times, thanks, in part, to the Fed’s constant rate hikes. Fighting inflation is a laudable goal but lenders wonder how badly the housing-finance system might be damaged.
Correspondent originators are better at finding purchase-mortgage business, and that’s why the channel’s market share rose in the second quarter. Brokers saw the biggest decline. (Includes six data charts.)
For the most part, subservicing growth has been slow, thanks to booming MSR sales and some non-traditional servicing owners shifting strategies. Cenlar, though, remains the nation’s number one subservicer. (Includes data chart.)
The total delinquency rate stood at 3.44% as of the end of June, among the lowest levels seen since the launch of Inside Mortgage Finance’s Large Servicer Delinquency Index in 2003. (Includes data chart.)
A year ago, most mortgage workers could name their price and be compensated at levels never experienced before. And today? It’s a whole different world, with lenders lopping off hundreds, if not thousands of jobs.
It was a good news/bad news story for the second-lien market in the first quarter of 2022. Production increased nicely but outstandings fell. (Includes three data charts.)
It is tougher times for banks engaged in financing nonbank originators. Usage rates are down significantly and some customers are consolidating lines of credit. (Includes data chart.)
RSS