Originations

These originators are more than holding their own in a largely male-dominated business.

Earnings dipped for both companies coming in at $236 million and $328.2 million, respectively.

In a quarterly earnings call, CEO Michael Nierenberg said the company was evaluating options and would likely file forms for a new public company in the near future.

A potential pause in the cycle by the Federal Open Market Committee is welcomed by housing industry observers, but inflation and inventory hinder activity.

Meanwhile, the average purchase loan amount surged to its highest level in 2023, showing signs of continued demand amid limited inventory.

Housing costs increased at the slowest pace in over a decade nationwide, even while monthly growth now exceeds its pre-pandemic level.

But the company's earnings were up due to lower loss provisions.

Because the bank occupied a niche in serving ultra high-end consumers, experts question whether its receivership will make other depositories more reluctant to offer jumbo loans.

The latest estimates for its market share in third-party origination channels as others have exited is 17% for correspondent and 2.2% in wholesale.

Trading of the company's securities was immediately suspended for failure to meet minimum shareholder equity levels, a move it agreed with.