California had more than double the amount of originations by nonbanks in 2022 compared with any other state. The refi share of originations by nonbanks in California was also elevated. (Includes data chart.)

California is set to become the 45th state to allow remote online notarizations for real estate transactions; LOs available 24/7 at Guaranteed Rate; empathetic lenders slow to cut staff; former Black Knight units rebrand as Dark Matter Technologies; Incenter boosts corporate staff; warehouse lending system moves to the cloud.

Interest rates on mortgages hit a level last seen in 2000.

Members of the National Association of Insurance Commissioners defended NAIC’s plan to allow state insurance commissioners to overrule the ratings assigned to MBS and ABS held by insurance companies.

Moody’s warned that a government shutdown could lead to a downgrade of its AAA rating for the U.S., Fannie and Freddie plan new social disclosures; DBRS proposes revisions to CLO rating criteria.

Originations of home equity lines of credit and closed-end second liens in 2023 haven’t kept pace with production in 2022 as elevated interest rates are limiting activity. (Includes three data charts.)

Leaders of the Mortgage Bankers Association and the Housing Policy Council argue that the government's role in the mortgage market is too large.

Washington Trust Company agreed to spend at least $9 million on lending efforts in majority-Black and Hispanic neighborhoods though the bank won't pay a civil monetary penalty.

Rithm Capital is preparing to issue a $669.9 million expanded-credit MBS.

The heads of mortgage industry trade groups are frustrated that the federal government is crowding out non-agency market participants.