A sharp drop in bank mortgage repurchases from the first to the second quarter was due mostly to one institution: USAA Federal Savings Bank. (Includes data chart.)
Bank call-report data show a huge drop in mortgage banking income from the first to the second quarter, but several top banks reported big gains. (Includes data chart.)
When an industry thrives, its chief trade organization usually thrives as well. But not in FY20, when COVID-19 and accounting entries from the year before nicked MBA’s bottom line.
The key to a modest increase in servicing-for-others in the banking industry was the purchase of a large nonbank by Western Alliance Bank. (Includes data chart.)
Only two of 21 banks reported increased income from mortgage banking during the second quarter, both due to improvement on the servicing side of the business. (Includes data chart.)
HMDA data show that minorities face notably higher denial rates than white borrowers, and more so if the mortgage is underwritten manually. (Includes data chart.)
California accounted for most of the overall market decline in agency business during the second quarter, although FHA lending was up in the state. (Includes data chart.)
The regulator released additional data collected from the survey of 5% of new mortgage borrowers each quarter. The data covers originations through the third quarter of 2020.
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