The share of mortgages with low credit scores delivered to Fannie Mae and Freddie Mac declined during the first quarter. Loans from the lowest-risk category accounted for 64.35% of the GSE business. (Includes two data charts.)
Private mortgage insurers gained market share in the agency purchase market during the first quarter, even as securitization of insured mortgages declined. (Includes two data charts.)
The nation’s second-largest residential mortgage lender based on 2022 originations has revived its conventional 1% downpayment mortgage product; FTC approaches court to stop ICE-Black Knight merger.
Home-equity originations declined 14.7% from the third to the fourth quarter. But compared to 2021, the sector was glowing with a 49.1% spike in originations in 2022. (Includes three data charts.)
Earnings generated by banks and thrifts through mortgage-banking activities fell again in the fourth quarter. Chase was among a handful of larger players to buck the trend, based on an analysis of call reports. (Includes data chart.)
Trade groups recommended VA establish a permanent partial claim program that allows servicers to combine a partial claim with a loan modification for borrowers that need to reduce their monthly payments.