United Wholesale Mortgage, the dominant conventional-conforming player in the broker channel, increased its production by 32.9% from the first to the second quarter.
The broker channel gained market share across the three major mortgage-product categories during the second quarter of 2023. In the conventional-conforming sector, the broker share hit 23.6%. (Includes two data charts.)
Commercial banks reported a slight sequential increase in repurchases in the second quarter. But at the midway point this year, buybacks were down sharply compared to the first half of last year. (Includes data chart.)
Overall, mortgage-banking income at banks increased by 8.7% from the first to the second quarter, though income declined at several top banks. (Includes data chart.)
ICE and Black Knight have agreed to complete the divestitures of the Empower and Optimal Blue businesses within 20 days after they consummate their merger next week, among other concessions.
Consumer complaints filed with the CFPB regarding credit reporting were sharply up in the six months ending June from a year ago. Criticisms about mortgages and student loans saw declines. (Includes two data charts.)
A CFPB proposal to set ability-to-repay requirements for PACE lending has support from mortgage lenders. However, PACE lenders and eight Republican state attorneys general have warned the proposal would lead to the end of PACE lending.
Bank portfolios of mortgage servicing for others contracted slightly during the first quarter. Also, the ratio measuring MSR fair value against the UPB serviced for others continued to drop after peaking in the third quarter of last year. (Includes data chart.)