Underwriting

This product, available throughout all of the company's channels, is characterized by interest-only payments over the first 10 years of the term.

Even though a Compass Point report states the pair have validated the credit scoring model and could implement it in the first quarter of 2023, interested parties would not verify it.

The application process was regarded more positively, which suggests originators have been successful at improving in this area.

Both bank and nonbanks are starting in — or returning to — this segment as they look to make up for declining originations. But there are a few key issues to consider before taking on the new line of business.

Morgan will now convert a pre-approved property-specific loan to a property agnostic tradable non-fungible token backed by real dollars and guaranteed by the lender.

The move will reduce the excess capacity in the field but the effects on servicing are likely to dampen the Federal Housing Administration market, Keefe, Bruyette & Woods said.

First American, Old Republic and Stewart did better compared to the first quarter, but all are down year-over-year, and Doma sank deeper into the red.

The company dialed back loan production activities at its call center and from mortgage brokers as interest rates continued to rise.

As recently as last week, the shuttered Cypress Mortgage Capital was marketing an offer for non-qualified mortgage loans.

The company is looking at the long-term picture, building business for 2023 and beyond, Chairman and CEO Mat Ishbia said.