Broker originations accounted for a growing share of first-quarter production in all three major mortgage products. United Wholesale accounted for the channel's growth. Read More
The average firm posted a pretax net loss of $214,000 loss in the first quarter. Retail-focused lenders and independent mortgage bankers fared relatively better. Read More
While banks overall reduced their servicing for others, Chase, Flagstar, M&T and MUFG Union Bank all built up their portfolios in the first quarter. Read More
Some industry participants are questioning the accuracy of the MBA’s refinance application index, suggesting that Google search trends are a better gauge. Read More
Interest rates are falling, refis are increasing and optimism abounds among many mortgage professionals. However, hiring has not been robust this spring but all that may soon change.
State housing-finance agencies and mortgage lenders disagree over a HUD mortgagee letter that would effectively restrict the ability of federally recog-nized governmental entities, including tribal lenders, to provide downpay-ment assistance to FHA borrowers. A lawsuit seeking temporary injunction has been filed against HUD. Read More