Originations

But with fewer mortgage transactions forecast for the next few years, it is unlikely that record will be topped any time soon, the American Land Title Association said.

New insurance written during the first quarter slipped by 20% from the prior three months and by 30% year-over-year, yet five companies had higher income than in the fourth quarter and all six earned more money than in the first quarter 2021.

But purchase activity reflected “resilient” consumer demand during the month, and first-time homebuyer loans gained market share, according to Black Knight.

The complaint claims outgoing staff downloaded information regarding a combined thousands of loans to their personal emails before departing for CrossCountry Mortgage.

A larger share felt it was a bad time for both buying and selling, but a growing number expect price growth to slow.

Fraud experts are concerned that credit washing, in which borrowers make false claims about being victims of identity theft, is making its way into mortgages from other forms of lending.

But company officials warned slimmer margins and a slowing market would lead to staff reductions.

The March estimates for payrolls of nonbanks involved in home lending confirm widespread anecdotal reports of industry layoffs, but strength in broader financial-services hiring could pick up the slack.

The servicing segment's pretax income was almost 80% higher than the fourth quarter, offsetting a more than 90% decline for the production business.

Home sales usually pick up in the spring, but Zillow's outlook indicates that higher mortgage rates and low inventory of for-sale homes will finally slow activity.