The share of mortgages in forbearance increased from 0.34% as of the end of September to 0.47% at the end of October, according to the Mortgage Bankers Association.

Lock-in persists; eClosing found to provide pricing gains; home sales expected to increase; LOs shy away from AI; credit card offers rewards points for mortgage payments; steady profits for LendingTree from lead business.

Prior to the second quarter of 2024, lenders participating in the MBA survey posted losses, on average, for eight consecutive quarters.

The REIT and Cherry Hill Mortgage Management, the external manager owned by Stanley Middleman, disagree about whether CHMI should pay an $18.4 million fee to terminate the external management agreement.

“The economy is not sending any signals that we need to be in a hurry to lower rates,” said Federal Reserve Chair Jerome Powell.

October was the busiest month of the year for non-agency MBS issuance. Activity has been limited thus far in November, though there are plenty of deals in the pipeline.

Cherry Hill Mortgage Investment continues to work toward an internal management structure, which would require a break from management affiliated with Stanley Middleman, CEO of Freedom Mortgage.

The cost of a credit score for originations is set to increase by 41% in January. The plan prompted trade groups representing lenders to renew calls for regulators and Congress to address pricing practices for credit reporting products.

The three executives hired by CrossCountry previously held similar positions at PennyMac.

Among LOs that knowingly use AI, the most cited use was for marketing efforts.