Origination

After shedding nearly 30% of its workforce in 2022, Envoy has leaned into a referral- and affiliate-based business model through strategic investments.

Rate movements changed market dynamics from early-year forecasts, contributing to risk signals in one out of every 119 applications, according to Cotality.

The company's affiliate has been issuing non-QM deals that include a small percentage of second liens, some of which also involve alternative documentation.

The latest consumer conditions study from the American Financial Services Association paints a less-than-rosy picture of how lenders expect the second half of the year to play out.

July sales rose 7% compared with the previous year, but a 7.7% drop in pending listings indicates future loan volume is drying up, according to Zillow.

The 3 basis point gain in the 30-year fixed comes as investors are now pricing in the likelihood of a Federal Reserve short-term rate hike in September.

Record lending drove a top-line gain on the year but one-time costs from reverse mortgage servicing sales and negative fair value changes hurt the bottom line.

The bill, which is meant to free up housing supply locked in by high mortgage rates, does not include assumable mortgages which stick with the property.

The lender disclosed a big investment, plus hefty, albeit declining, origination volume but revealed a major hedge-related net loss it blamed on the failed bid.

The online lender said its national bank will become the "primary originator," displacing the banks that are lenders of record. Loan buyers keep their role.