Underwriting

A combination of fewer mortgage originations and investment losses for some companies contributed to declines.

The drop was led by a large decline in cash-out refinancing volume, Black Knight said.

Choices of which homes are used for comparisons play a major role in disparate home valuations for Black and white homeowners, according to studies recently released by the National Community Reinvestment Coalition and academic researchers.

The non-qualified mortgage lender lost $13 million in the quarter, a slight improvement over the previous period.

But its tight lead indicates that originators are struggling to differentiate themselves from the competition J.D. Power's Craig Martin said.

The six active underwriters wrote 14% less business compared with the second quarter and 30% from one year prior.

The company is reporting both higher origination volume and net earnings on a quarter-to-quarter basis.

These associations contribute some relatively affordable housing to a pricey market, but key mortgage stakeholders have tightened criteria in the wake of a building collapse that highlighted the sector's particular risks.

The company, which evolved into a refinance-focused call center after a disastrous move into reverse mortgages, reportedly informed employees of the closure on Oct. 14.

Problems with the closing protection letter are the predominant cause of those errors, a FundingShield report determined.