Thrift originations of single-family loans increased by 1% in the third quarter from those of the previous quarter, but loan production was down 8% from that of a year earlier.Thrifts originated $149.9 billion in one- to four-family loans in the third quarter, down from $181.3 billion in the third quarter of last year, according to the Office of Thrift Supervision. Despite the slight increase, the percentage of adjustable-rate mortgages and refinancing activity fell noticeably. An estimated 26% of thrift originations were adjustable-rate mortgages, compared with 37% in the previous quarter, the OTS reported. Refinancings accounted for 27% of originations, down from 33% in the second quarter. The 853 OTS-supervised thrifts posted $4.29 billion in earnings, despite a $195.6 million hit due to a decline in the value of servicing fees. Nevertheless, it was the seventh consecutive quarter in which thrift earnings topped $4 billion.
-
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
10h ago -
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.
10h ago -
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