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The 30-year average has risen by more than a full percentage point in a little over a month.

While both refinance and purchase customers were banging down the doors in 2021, leading producers are already working much harder as they change up their offerings.

Also, AI-platform Gateless names industry veteran as its first president, new CDFI and non-QM lender Champions Funding begins operations and Farmer Mac welcomes back board chair.

The Texas-based company aims to increase customer retention, offering borrowers amenities like flexible payment options through a self-serve vendor system.

Mike Roffler, the San Francisco bank’s incoming chief executive, says he’s not shifting strategy. During the first quarter, the company leaned on its mortgage business, where customers moved to lock in refinancings before interest rates rose.

As inflation increases, more companies are shifting to remote and hybrid work to get their costs under control. Landlords could face rising vacancies and tumbling revenue, leaving them behind on loan payments.

The gain on sale from first quarter originations increased as the bank shifted more volume share to the higher-margin channel.

Meanwhile, adjustable-rate mortgages saw their largest volume share since 2019.

California Attorney General Rob Bonta and 21 other AGs urged the Consumer Financial Protection Bureau to include consumer costs for certain mortgage payment services in a review of "junk" charges.

Last year, mortgage originators had the best of everything — low interest rates that attracted plenty of refinancings and increasing purchase demand at the same time. While they're preparing for a rockier road ahead, we're celebrating their accomplishments in 2021.