Sutherland and NOVAD formed a servicing operation in 2014 that won a contract to service reverse mortgages for HUD. The companies remained reverse-mortgage servicers until near the end of 2022.

Many of the top depository institutions reduced their production in the first quarter.

Fannie economists now only expect one rate cut by the Fed this year, possibly in December.

The mortgage delinquency rate declined to 3.04% as of the end of May, down from 3.09% at the end of April, according to Intercontinental Exchange.

The decline was driven by conventional-conforming mortgages and government-insured mortgages. The securitization rate for non-agency mortgages actually jumped in the first quarter. (Includes data table.)

Ally Bank, Huntington National Bank and Santander Bank are in the market with credit-linked notes tied to auto loans.

Banks tightened underwriting standards for HELOCs in the first quarter and demand from borrowers declined. The only HEL lender among the top five to increase production in the first quarter of 2024 was a nonbank. (Includes three data tables.)

The CFPB has permanently banned three companies from servicing reverse mortgages. Separately, the bureau issued a proposed order against Freedom Mortgage for repeated submissions of faulty HMDA data.

The spring homebuying season ended with a thud in 2024.

Sutherland and NOVAD formed a servicing operation in 2014 to service HECMs on behalf of HUD.