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Inside Mortgage Trends

June 2, 2017

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Correspondents Gained Market Share in All Three Major Loan Types During 1Q17

More first-lien mortgages are originated through retail lending operations than either of the other main production channels, but correspondents gained some ground during the first quarter. An exclusive Inside Mortgage Trends analysis of survey data shows that the market share for correspondents rose in all three major loan categories: conventional conforming, jumbo and government insured. Correspondents have their deepest penetration in ... [Includes two data charts] Read More

Bank Mortgage Earnings Tumble in 1Q17

Mortgage banking remained profitable for the vast majority of banks and thrifts that are in the business, but earnings declined sharply in early 2017 and more institutions quit the market, according to a new Inside Mortgage Trends analysis of call reports. The industry reported a combined $3.562 billion in mortgage-banking income for the first quarter of this year, down 35.0 percent from the previous three-month period. The upside was that first-quarter profits ... [Includes one data chart] Read More

Regulators Move to E-Exams. Are You Ready?

There’s plenty of talk in mortgage technology circles of e-mortgages, re-imagining the loan origination process and digitizing back-office operations, but what about the regulatory, supervisory and examination front? During a recent interview with Inside Mortgage Trends, Sharif Mahdavian, vice president of national sales at ComplianceEase, a leading industry vendor, revealed that regulators are increasingly moving to an “e-examination” phase to augment their current level of ... Read More

Mortgage CEO Turnstile May Spin Faster in 2017

Over the past six months, chief executive officers at three top 20-ranked mortgage firms have been replaced for varying reasons. Are more changes in store in what could turn out to be a down year for residential lending? That’s hard to say, but speculation is growing that the executive turnstiles might be spinning a little faster between now and yearend. The three companies that unveiled CEO changes are PennyMac Financial Services (Stanford Kurland departing ... Read More

Flagstar Moves to ‘Protect’ Mortgage Revenue

Flagstar Bancorp completed two acquisitions this year that officials said were aimed at maintaining mortgage-related revenues even as industry-wide originations are expected to decline. In April, Flagstar acquired assets of Opes Advisors. In February, the bank acquired Stearns Lending’s delegated correspondent platform. During Flagstar’s recent annual shareholder meeting, Alessandro DiNello, president and CEO, said the acquisitions won’t necessarily ... Read More

Robots on the Horizon for Mortgage Industry

The next generation of technology improvements to the mortgage industry could include digital robots, according to analysts at PwC. The consumer finance division of the professional services firm recently published a paper on robotics and “digital labor” options for mortgage lending and servicing. The firm estimates that by the early 2030s, up to 38 percent of existing U.S. jobs will be susceptible to automation from robotics and artificial intelligence. PwC said the mortgage industry is ... Read More

Experts See More Opportunities for Nonbanks

Nonbanks and fintech firms have made major in-roads in mortgage originations and now account for a significant chunk of the market and are continuing to expand through regulatory arbitrage, according to analysts at Keefe, Bruyette & Woods. Discussing the so-called disruptors in the mortgage market during a recent podcast, Bose George, chief of mortgage research at KBW, and Brian Gardner, KBW’s senior policy analyst, reported that nonbanks now originate 38 percent of all ... Read More

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