Originations

The company is blaming anticipated declines in origination volume for its latest cuts.

The business opportunity comes at a time when lenders are looking to save money because of tightening margins.

Researchers at the government-sponsored enterprise noted the role rising rates are playing in increasing housing costs in its report, now offered publicly for the first time.

Different loan options to traditional mortgages can be costlier, lack consumer protections and leave debtors at risk of ownership disputes and loss of home equity.

The industry trade group warns that attorney opinion letters may introduce additional risk, but vendors offering them said their products can sufficiently protect ownership of mortgaged properties at a lower price.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

But current economic and geopolitical tensions and the shift to a purchase market means lenders should remain vigilant, Ace Quality Management warned.

The 30-year average has risen by more than a full percentage point in a little over a month.

While both refinance and purchase customers were banging down the doors in 2021, leading producers are already working much harder as they change up their offerings.

The gain on sale from first quarter originations increased as the bank shifted more volume share to the higher-margin channel.