Origination

An increase in conventional lending products drove the upturn, but the overall reading of the Mortgage Bankers Association index still landed near the longtime low from late 2023.

The year-over-year gain was 1.3 percentage points higher in the most recent period compared with the third quarter last year, the National Association of Realtors found.

Other servicing gains helped Mr. Cooper profit despite negative mark-to-market valuations and cyberattack costs that led to lower consecutive-quarter results.

Only a few dozen mortgage firms could likely afford the $7 million ad for this year's big game, a marketing veteran said.

The quarterly rise in late payments on Federal Housing Administration loans was more than five times the increase for home loans overall.

The wholesale giant meanwhile is suing four partners for selling loans to Rocket Mortgage and Fairway Independent Mortgage Corp., in violation of its 2021 decree.

Treasury Secretary Janet Yellen didn't directly address the turmoil at New York Community Bank, and said that while some smaller institutions could be hit by a changing commercial real estate market, she doesn't anticipate these mortgages will become a systemic risk.

Fannie Mae is implementing a new prohibition for traditional valuations and addressing the possibility of the National Flood Insurance Program lapsing.

While the Freddie Mac survey reported just a 1 basis point increase from last week, Zillow's tracker found a 30 basis point rise in the 30-year fixed, more reflective of what happened in the bond market.

The added revenue from servicing plus the data and analytics segment helped to improve the quarter-to-quarter results at the mortgage technology behemoth.