Some 12.9% of purchase loans sold to Fannie and Freddie in the second quarter had credit scores ranging from 620 to 699, the highest such concentration on record. But loans with high credit scores accounted for a rising share of GSE refi business. Read More
Seven publicly held nonbanks reported a combined loss of $47.8 million on their mortgage banking operations in the second quarter as interest rate volatility hammered their servicing books. Read More
Originations are booming but the government’s latest reading on mortgage employment wasn’t exactly encouraging. Still, interviews conducted by Inside Mortgage Trends reveal that many shops are looking to hire. Read More
TD Bank was the top volume gainer among residential lenders in the second quarter but barely made the top 50 volume ranking in the first half of the year. Moral of story: the bigger you are, the harder it is to post huge percentage gains. Read More
Borrowers are increasingly using self-service options offered by servicers, leaving only the more complex tasks for call center agents to handle. Read More
The increase in land values is causing home prices to spike across the country, making housing less affordable. Median price per acre of land used for single-family housing increased by 27% from 2012 through 2017. Read More
Who says the stock market isn't receptive to mortgage companies these days? Don't tell that to New Rez and Sachem. Meanwhile, the MSR bulk auction market is springing to life once again. Read More