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.)
Total delinquencies declined in the first quarter led by the drop in early-stage defaults. However, the delinquency rate on loans 30-59 days past due still accounted for more than half of the total default rate. (Includes data chart.)