JPMorgan Chase remained the largest bank in terms of servicing for others and increased its volume in the second quarter, a feat managed by only one other bank in the top 10. (Includes data table.)
With interest rates on mortgages set to come down, some lenders are looking to quickly adopt tech to help with originations. Blend Labs is seeing lenders use more of the tech vendor’s products and an automated refi offering is on the way.
Remote work increases for mortgage fulfillment; MISMO offers reference materials for ESG data; lenders frustrated with tech vendors; ICE updates Encompass; tech firms offer loan audits with AI.
A task force at the National Association of Insurance Commissioners recommended adoption of a proposal to alter credit ratings on investments at insurance companies. However, NAIC didn’t move forward with the proposal at a meeting last week.
Originations increased across mortgage products in the second quarter. The conventional-conforming sector’s market share held steady while government-insured lending lost some share. (Includes data tables.)
The mortgage delinquency rate is rising in tandem with the unemployment rate. While early-stage delinquencies are growing, borrowers are largely avoiding foreclosure thanks to home equity and loss mitigation. (Includes data tables.)