Fannie Economists Expect Homeowner ‘Lock-In’ to Persist October 17, 2024 Brandon Ivey Fannie economists project that purchase-mortgage originations will increase by 15.4% on an annual basis in 2025.Read More
UWM Offers Cash-Out Refi With High LTV Ratio, No Borrower-Paid MI October 17, 2024 Brandon Ivey It’s not clear what secondary market execution UWM will employ nor whether UWM will use lender-paid MI.Read More
Short Takes: Chimera to Acquire Asset Manager / $300 Million Investment in HEI Provider / Cerberus Packages US Bank Loans / Jumbo MBS From Chase / Rocket’s Latest CES Securitization / Better Launches Voice AI October 17, 2024 Brandon Ivey Chimera will pay $30 million upfront for Palisades Group and an earnout of up to $20 million.Read More
US Bank, Citi Boost Originations in Third Quarter October 16, 2024 Brandon Ivey US Bank posted the biggest increase in production among the large banks that have reported third-quarter earnings thus far.Read More
Short Takes: Applications Drop / Home Price Reading for September / SBA Out of Funding for Disaster Loans / NYCB to Rebrand as Flagstar / Acra Brings MBS / PrimeLending Looking to Grow October 16, 2024 Brandon Ivey Applications for refis declined by 26% last week.Read More
Originations Decline at Bank of America in Third Quarter October 15, 2024 Brandon Ivey BofA’s mortgage originations are more heavily weighted toward jumbos compared with other large banks.Read More
Short Takes: PNC’s Originations Increase, Margins Decline / Home Price Appreciation Slows / Low Satisfaction / PenFed Turns to Blend October 15, 2024 Brandon Ivey PNC's margin on mortgage production declined from 1.96% in the second quarter of 2024 to 1.45% in the third quarter.Read More
Wells Fargo’s Cuts to Mortgage Staff Level Off October 14, 2024 Brandon Ivey 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.Read More
Short Takes: Radian Back With Jumbo MBS / Refi Share at Wells / PHH Servicer Ratings Affirmed / New Issuer of Home Improvement ABS October 14, 2024 Brandon Ivey An affiliate of Radian Group is marketing its second jumbo MBS.Read More
Originations Revenue Slumps at Chase, Wells in 3Q October 11, 2024 Brandon Ivey Originations increased at Chase and Wells in the third quarter though production revenue was down.Read More