Nonbank mortgage jobs tank for second month
Nonbank mortgage payrolls declined for the second consecutive month, but with mass firings increasing towards the end of June, the most recent statistics fail to represent the full extent of…
Finance of America plans more cuts after big losses in Q2
Finance of America’s losses deepened in the second quarter as spread widening intensified, impacting even loan segments that were previously insulated from it, and outpacing gains in areas like servicing…
How to pivot from mortgage broker to banker with digital tools
As the mortgage industry weathers its current cycle, experiencing both elevated rates relative to the last decade and scarce residential inventory, independent mortgage origination professionals are challenged to stay nimble…
Mortgage layoffs erase past year’s headcount gains for nonbanks
The latest numbers for nonbank mortgage headcount show that layoffs and other reduction-in-force moves like voluntary buyouts have erased all the industry gains in the past year. Combined estimates for…
Mortgage And Refinance Rates, June 21
Today’s mortgage and refinance rates Markets were closed yesterday for the Juneteeth federal holiday. Average mortgage rates inched lower last Friday, though only by a similar tiny amount to Thursday’s…
Mortgage jobs recorded small seasonal gain despite layoffs
The latest estimates for mortgage banker and broker payrolls show lukewarm interest in hiring as the spring homebuying season got underway, despite an ongoing wave of industry layoffs, The number…
Per-loan profits for mortgage bankers shrank in 2021
Independent mortgage bankers were highly profitable in 2021, but made over $1,860 per loan less compared with the record earnings the prior year, according to the Mortgage Bankers Association. IMBs…
Mortgage jobs dropped in February as layoffs spread
Estimates for nonbank mortgage jobs dropped as broader hiring grew at a rate that, despite landing below consensus expectations, drove unemployment to a pandemic low. Total mortgage banker and broker…
Nearly $2B in Fannie Mae, Freddie Mac servicing is up for sale
Mortgage Industry Advisory Corp. is brokering for an unnamed mortgage banker a $1.94 billion Fannie Mae and Freddie Mac mortgage servicing rights portfolio. The offering comes at a time when…
Mortgage jobs inch up on a net basis despite omicron, layoffs
The latest nonbank mortgage employment numbers show a slight month-to-month uptick, but even after a substantial upward revision for 2021 following an annual review, hiring is plateauing. The monthly payroll…