Originations

While first-quarter profits were up considerably, CEO Michael Nierenberg said the company will offer more products to counter market conditions that are “only going to get worse.”

Surging interest rates have pushed refinance applications down by over 70% in a year, while ARMs have doubled their share in three months.

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.

Averages rose sharply across the board, as investors focus on the central bank's response to ongoing economic and geopolitical developments.

The company claims its digital registry system is a faster, safer alternative to MERS databases

Executives speak on the uncertainty created by the Russia-Ukraine war and Federal Reserve announcements.

Purchase lending grew despite headwinds in mortgage rates and rising home values.

In addition to the Russia-Ukraine conflict, persistent inflationary pressures and expected monetary policy moves are contributing to volatility.

The $1.7 trillion in purchase lending for the year is the most ever recorded according to Black Knight’s January Mortgage Monitor Report.

The effect of the conflict and upcoming Fed announcements have left much of the industry guessing about what happens next.

The Mortgage Bankers Association now predicts slightly more purchases even with higher rates, but the Ukraine situation could change that.