A few top lenders managed to gain share in primary market originations of agency-eligible loans during the fourth quarter. But product totals were down across the board. (Includes two data tables.)
A mini-price war from UWM and it’s not even March. As one warehouse veteran put it: “It’s a little like the old Rockefeller tactic of pricing out the competition. It seems to work, but at a cost.”
Banking regulators appear to be taking criticism of their capital requirements proposal to heart. The impact the proposal would have on the mortgage market remains a major issue.
Federal Reserve Chair Jerome Powell acknowledged that housing sector activity has been largely subdued due to high interest rates. However, he said the central bank is “not targeting housing price inflation.”
Servicing sales are off to a strong start in the new year, especially now with Federal Reserve interest rate cuts hardly a sure thing. Another factor is a fresh round of available capital from investors.