Originations

The bank didn’t disclose which specific employees, or how many, were impacted by the announcement.

Different loan options to traditional mortgages can be costlier, lack consumer protections and leave debtors at risk of ownership disputes and loss of home equity.

Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.

While both refinance and purchase customers were banging down the doors in 2021, leading producers are already working much harder as they change up their offerings.

The gain on sale from first quarter originations increased as the bank shifted more volume share to the higher-margin channel.

But it was the second-most successful year ever for IMB originations since the Mortgage Bankers Association began collecting this data in 2008.

The municipality and the bank have been at odds over similar issues in the past, and no agency currently has deposit accounts with the lender.

Originators offered fewer high loan-to-value and lower credit-score products, but jumbo offerings increased for the 10th time in 12 months, the Mortgage Bankers Association said.

The new futures contracts can be used to mitigate risk on both the origination pipeline and the mortgage servicing portfolio.

But the sluggish pace of refinances brought down overall application numbers last week.