The job losses in the mortgage brokerage community were much less severe: 900 employees were handed pink slips in June...

The results, released after the closing bell Thursday, also revealed a respectable 2Q22 gain-on-sale margin of 292 basis points...

The rate reprieve isn’t enough to eliminate the staff reductions that are now going on at most shops.

Sprout Mortgage, a non-QM lender, had a $10 million tax liability with the Internal Revenue Service when it closed its doors in July, according to interviews by Inside Mortgage Finance and supporting documents.

In its final days, it appears that non-QM originator Sprout Mortgage had an IRS matter it was trying to work out. Current status: Unknown.

Radian joins Arch MI as mortgage insurance companies that now have non-agency conduit operations.

The fintech was sanctioned by Washington state for licensing and other violations...

Now, if the house was in Jones Beach, that might be a different matter...

Mortgage insurers are good at analyzing credit risk, which might be why a second MI, Radian, has entered the non-agency conduit arena.

Lower origination levels continue to impact agency MBS trading volume. Meanwhile, credit quality fears are starting to gain traction in some quarters of the industry.