A group of 13 publicly traded nonbank lenders reported a combined $2.20 billion in mortgage-banking income for the second quarter, down 32.3% from the first quarter. (Includes data table.)
Residential whole-loan assets are becoming more popular among insurance companies because they are willing to accept the operational complexity that comes with investments in the space.
The slowdown in premium increases comes as insurers focused on restoring profitability after a period of high inflation, rising construction costs, expensive reinsurance and record catastrophe losses.