Originations

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.

The company recorded its first quarter of production-related sequential revenue growth in roughly two years, which supplemented its income from the servicer and real estate business line.

While Freddie Mac reported the 30-year fixed rate loan increased, other data providers show that product's pricing dropped from seven days earlier.

Last year was a tough year for the mortgage industry, but the best of the best managed to keep their volumes high.

Borrowers across all income levels and purchase price levels sought the discounts as interest rates rose past 7% last year.

Conventional and government-backed purchases both increased last week, even with a 12 basis point surge in the 30-year conforming average, the Mortgage Bankers Association said.

Business owners or employees in this line of business can apply for a non-QM loan in 38 states that have legalized recreational or medical use of marijuana.

Depending on the state, the range is from $1.7K to $3.7K based on loan offers made on the site.

Taking a second look at those who were denied credit is very costly for lenders under the FHA's antiquated rules, writes the Chairman of Whalen Global Advisors.

Home loan volume is slowing, heightening the need for effective outreach to new leads for lenders. Join industry mortgage marketing leaders for a discussion about best practices in the current landscape.

They rose 2% from a year earlier in February, slower than the 3.7% increase in January, according to data from S&P CoreLogic Case-Shiller. 

The wholesaler, which is in the process of buying Homepoint's business, in its first major product announcement introduces a buy before you sell offering.