Mortgages

Numbers fell across all investor types, but exits hit their slowest pace since August.

The company, which was accused of cutting corners in originations by a former top executive, produced $32 billion in the third quarter and is guiding between $26 billion and $31 billion in the fourth.

When added to other staffing and acquisitions additions since year-end 2019, the mortgage services provider has more than tripled the company’s headcount.

Recent offerings come with lower age-eligibility requirements compared to traditional government-backed home equity conversion mortgages.

The move by the agency, which is an arm of the Department of Housing and Urban Development, will help further efforts to give servicers more leeway to modify mortgage terms.

Rocket, already the nation's No. 1 lender, is looking to increase market share

Numbers decreased across all loan types, with the largest decline among GSE-backed mortgages.

If lenders build this technology, data suggests that borrowers will come walking out of the cornfields for it — but Congress needs to pass the SECURE Act first.

Mortgage servicing rights can look more attractive to originators as they become increasingly interested in building their customer base, but some may want to sell due to thinner margins or regulatory uncertainty.

The company is making progress on a focus shift to recurring revenues from transactional activities.

James Campbell joins a bank whose mortgage operations generated $178 million in third-quarter revenue.

The company sees an opportunity as its competitors have to sell to make up for lost income due to tighter origination margins.

Numbers have fallen on a consecutive quarter and 12-month basis in half of all states but are likely to increase following the gradual end to the federal foreclosure ban, according to Attom Data Solutions.

Application for loans to buy a home are a quarter more likely to contain misrepresentations than other loans in the market, CoreLogic said.

The increased complexity of loss mitigation in the wake of the pandemic has increasingly prompted a growing number of mid-sized players to outsource, so constraints on one player could affect others.

The standards, if finalized, could shed light on how Fannie Mae and Freddie Mac are complying with the Federal Housing Finance Agency's new capital framework.

Purchases picked up, but refinances slowed for a fifth straight week, as rising interest rates took steam out of the market.

Rising debt-to-income ratios were behind almost a third of refinance rejections among those 65 and older, according to an analysis from the Urban Institute.

On Tuesday, lumber futures were trading around $735.70 per 1,000 board feet in Chicago, more than double the pre-pandemic five-year average around $356.

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.