It’s not clear what secondary market execution UWM will employ nor whether UWM will use lender-paid MI.

Chimera will pay $30 million upfront for Palisades Group and an earnout of up to $20 million.

US Bank posted the biggest increase in production among the large banks that have reported third-quarter earnings thus far.

Applications for refis declined by 26% last week.

BofA’s mortgage originations are more heavily weighted toward jumbos compared with other large banks.

PNC's margin on mortgage production declined from 1.96% in the second quarter of 2024 to 1.45% in the third quarter.

Wells originated $5.5 billion of mortgages through the retail channel in the third quarter of 2024, down 14.1% from the third quarter of 2023.

An affiliate of Radian Group is marketing its second jumbo MBS.

Originations increased at Chase and Wells in the third quarter though production revenue was down.

Kristen Clarke, assistant attorney general in the DOJ’s civil rights division, said the settlement shows that the DOJ intends to hold “all types of lenders accountable for their role in modern-day redlining.”