Secondary

The mortgage giants were authorized to give just over $1 billion combined to the National Housing Trust Fund and the Capital Magnet Fund this year, the highest contribution ever. The amount reflects refinancing growth in 2020.

But profitability may have peaked. Rocket reported a 4.41% profit margin on newly originated loans last quarter but told investors on Thursday to expect margins on new loans this quarter to be around 3.6% to 3.9%.

The $16.9 billion in issuance marked the biggest annual number seen since the government-sponsored enterprise reconstituted its risk sharing program in 2013.

As its mortgage origination volume delivered another quarter of strong earnings, Mr. Cooper’s banking on its "enormous backlog" of REO orders to generate further profitability once the foreclosure moratorium is lifted.

The former president of the private mortgage insurer is coming out of retirement to direct the bank's missions on affordable housing, community and economic development.

The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.

Independent mortgage banker recovery drove the weekly decrease in forbearance share, according to the Mortgage Bankers Association.

Moratorium extensions helped drive a weekly increase in forbearances, according to Black Knight.

The newly public digital mortgage giant is relying on a diverse set of loan channels to take on competitors in an increasingly crowded field, CEO Anthony Hsieh said in an earnings call this week.

Ratings agencies describe a "notable" concentration of alternative-income mortgages in the nonforming pool that were underwritten by Ellington-affiliated LendSure.