Origination

While first-quarter profits were up considerably, CEO Michael Nierenberg said the company will offer more products to counter market conditions that are “only going to get worse.”

During the pandemic, consumer lenders have found it easier to collect payments because the federal student loan moratorium has made many borrowers more liquid. A plan for blanket forgiveness reportedly under consideration by President Biden could sustain that trend.

The transaction is expected to keep revenues flat at the company at a time when mortgage origination volume is shrinking.

Mortgage payments are claiming a bigger chunk of incomes for U.S. homebuyers, who also have to contend with quickly rising prices.

Nearly two-thirds were willing to make an offer within three days of viewing a house; 20% stated they would do so on the same day.

The trend is fueled in part by historic homebuyer affordability challenges and rising interest rates.

Some lenders and their parent companies are reconsidering their loan-channel mix and business lines as refinance volumes fall and margins shrink; others are doubling down.

United Wholesale CEO Mat Ishbia criticized his Detroit mortgage rival for recent job cut announcements in a post that has generated hundreds of responses.

Bankers object to the Consumer Financial Protection Bureau's request on “exploitative junk fees” that produce billions in income for financial institutions, arguing that banks are compliant with statutes that require fees be disclosed to customers.

The median rent in the tri-county area jumped 57% from March 2021 to March 2022, according to the latest data from realtor.com.