Lending

Lending (1449)

IMBs Averaged $1,972 Loss Per Loan in First Quarter of 2023

The Mortgage Bankers Association has shared new data showing that independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $1,972 on each loan originated in the first quarter of the year. So reports The Hill. Read more...

Bodnar of MMG: 3 Big Market-moving News Events

Bill Bodnar of the Mortgage Market Guide shares his thoughts on three big news events midday Friday that moved the markets as we head into the coming week. Read more...

UWM, Rocket Post Second Straight Quarterly Losses

United Wholesale Mortgage and Rocket Mortgage each posted their second straight quarterly losses in the first quarter of 2023—just the second quarterly losses ever for the rival companies since going public. So reports the Detroit Free Press. Read more...

Mr. Cooper Buy Home Point for $324M

Dallas-based Mr. Cooper Group has agreed to acquire Michigan-based Home Point Capital for $324 million and will take on $500 million of Home Point’s outstanding debt. So reports The Real Deal. Read more...

April Rate Lock Volumes Fall Despite Cooling Rates

Rate lock volumes dropped in April even though mortgage rates were also lower during the month. So reports TheMReport. Read more...

Mortgage Rates Drift Lower for Second Straight Week

Mortgage rates have edged down for two consecutive weeks amid signs of cooling inflation. So reports CNN. Read more...

Bodnar of MMG: Why Rates Have Been Unable to Improve

"Rates have been unable to improve because of clear technical barriers," says Bill Bodnar of the Mortgage Market Guide (MMG). Read more...

Bodnar of MMG: A Mixed Bag for Jobs

"The Jobs Report was a mixed bag," according to Bill Bodnar of the Mortgage Market Guide. Bodnar notes that as of right now, there's a chance the Fed stays pat in June. Read more...

Mortgage-Backed Securities Issuance Drops to 23-Year-Low

In the first four months of 2023, global mortgage-backed securities issuance fell to its lowest level in 23 years. So reports Reuters. Read more...

Fannie Mae 1Q Profits Climb Despite Lower Revenues

Fannie Mae has announced first-quarter net income of $3.78 billion, more than double the fourth quarter of 2022 but down 14% from a year earlier. So reports NEXTMortgageNews. Read more...

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