While gain on sale margins for mortgage lenders were at least stable, if not improved, in the third quarter compared to prior periods, that did not necessarily translate to improved profitability, separate reports from Morningstar DBRS and Boston Consulting Group revealed. The Morningstar report looked only at independent mortgage bankers, and the group it pulled […]
IMBs gain on sale is up, profitability isn’t Read More »
U.S. Federal Housing is boosting the conforming loan limits by 3.26% for 2026 based on the annual change in home prices using an expanded data set. The new limit of $832,750, is an increase of $26,250 from the 2025 limit of $806,500. The high-cost ceiling for one-unit properties will be $1,249,125, which is 150% of
U.S. Federal Housing raises 2026 conforming limits over 3% Read More »
The mortgage industry is up in arms about price increases for credit score pulls. “By now, half the mortgage industry has seen the proposed increases for accessing consumer credit,” a LinkedIn post from NFM Lending Managing Director Greg Sher said. “It’s anywhere from 40-100% – this is on the heels of 700% increases over the
MBA objects to credit report price hike, wants single pull Read More »
Foreign buyers and local investors continue to play a critical role in the U.S. housing market, pushing ahead with purchases and refinances despite rising costs, shifting politics, and slower returns. For mortgage lenders, these buyers represent a growing business opportunity. Investor ownership of residential real estate has long been a contentious topic, with some blaming
Today’s investor property loan opportunity for lenders Read More »
Onity’s PHH Mortgage Corp. subsidiary is repositioning its reverse mortgage business, selling its loan pipeline and multibillion-dollar servicing rights portfolio in that part of the market to Finance of America while staying involved as a subservicer and niche securitizer. PHH said it is working to accommodate a smooth transition for its reverse mortgage originators when
FOA buys Onity’s reverse MSRs in strategic shift Read More »
Rocket Mortgage has come out with a debt service coverage ratio product in both its wholesale and retail channels, joining a rather competitive landscape of both non-qualified mortgage specialists and more traditional lenders like its rival United Wholesale Mortgage, that already serve investors looking to finance rental properties. Another recent entrant with a suite of
Rocket latest lender to add debt service coverage mortgages Read More »
Independent mortgage bankers reported a second consecutive quarter of profits on their loan production, helped by the September rate drop and surge in application volume, the Mortgage Bankers Association said. Between originations and servicing income, roughly 85% of the 325 companies which participated in the Quarterly Mortgage Bankers Performance Report were profitable. “After a series
Loan profits improve for IMBs in 3Q Read More »
Fraud and misrepresentation remain persistent challenges in the mortgage industry and Freddie Mac is responding by bringing Quality Control Advisor Plus to the market, a tool which automates this compliance function. The tool is currently in a phased onboarding process with plans to make it available to all lenders by year-end, including the participants in
Freddie Mac adds mortgage quality control automation tool Read More »
The U.S. residential housing economy growth will have slowed by 1.1% this year, from 2% in 2024, a result of cost pressures derived from higher tariffs on builder supplies like lumber, labor issues and weaker consumer and homebuilder sentiment about the sector, Fitch Ratings said. Over the next two years, it expects restrained growth rates
Fitch flags cooling housing market through 2027 Read More »
Figure Technology Solutions posted a strong quarter in its first public earnings report, including $2.4 billion in home equity line of credit lending. The fintech, which went public in September, recorded $89.8 million in net income for the third quarter, exceeding a Standard & Poor’s consensus estimate of $35 million. That also surpassed its $27.4
Figure posts huge HELOC volume in strong earnings debut Read More »