FHA and VA endorsements shrank more than 19% in the first quarter as interest rates climbed. Those who made a quick switch from refi to purchase business thrived. (Includes three data charts.)
As retail and correspondent loan sales to the agencies fell by 20%, lenders became visibly less discerning about credit quality, with credit scores dropping and DTI/LTV ratios rising. (Includes two data charts.)
After three quarters of steady declines, the number of mortgage-related complaints received by the CFPB rose again in the first quarter of 2022. Mr. Cooper Group was the most frequent target of customer ire. (Includestwo data charts.)
Ginnie MBS issuance plummeted 16.8% in February amid rising interest rates. Refinances gave ground to purchase-money mortgages and modifications. (Includes two data charts.)
Agency mortgage sales plummeted across all channels in the fourth quarter as Fannie Mae expanded its market share. Rocket, PennyMac and UWM dominated retail, correspondent and wholesale, respectively. (Includes two data charts.)