Half of the bonus payments will be withheld until Better achieves two consecutive quarters of “positive operating cash flow.”

The top three home equity lenders in 2Q23: Bank of America, Citizens Bank and PNC...

Margin calls on MBS investors using leverage?

Banks and thrifts increased their holdings of mortgages they intend to sell by nearly 10% during the second quarter. Both originations and loan sales increased during the quarter. (Includes two data charts.)

A provider of directors and officers insurance is on the book for an $18 million payout tied to Guaranteed Rate’s settlement with the DOJ over charges under the False Claims Act.

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.