The strong purchase and refinancing activity in the third quarter pushed thrift originations of one- to four-family loans above the $200 billion mark for the first time, according to the Office of Thrift Supervision.The OTS reported that originations jumped from $198.8 billion in the second quarter to a record $229.9 billion in the third quarter -- a 17% increase. Compared with totals from a year earlier, originations were up 88%. Adjustable-rate mortgages made up only 17% of single-family originations, and thrifts sold $232.5 billion of their loans in the secondary market. Servicing fee income was positive ($148.2 million) for the first time in six quarters thanks in an uptick in mortgage rates. OTS Director James Gilleran praised the strong results. But he urged thrift executives to "manage their portfolios and operations carefully going forward to control expenses and maintain earnings strength in the face of declining mortgage volumes coupled with shrinking net interest margin."
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18