Origination

Problems with self-service tools and inconsistent communication have damaged consumer perception of their lender, J.D. Power said.

JPMorgan Chase is going on the “offensive” in mortgages as home prices rise across the country, said Marianne Lake, the bank’s chief executive for consumer lending.

Bay Area homebuyers shook off any lingering reservations about shopping during the coronavirus pandemic, driving median sale prices up nearly 20% in September in a tight housing market.

Also: Waterstone Financial hires its fourth head of mortgage in two years.

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.

For most of the underwriters it was a strong quarter, but concerns remain over government-sponsored enterprise reform and potential claims after forbearances end.

Under 2.9 million borrowers sit in coronavirus-related forbearance as GSE-backed mortgages drove the latest decrease, according to Black Knight.

The new record in third-party originator hiring numbers adds to indications that some lenders have been leaning harder on the wholesale channel to address capacity issues amid the origination boom.

Mortgage industry hiring and new job appointments for the week ending Nov. 6.

The company is finding it challenging to ramp originations back up after spending most of the second quarter on the sidelines.