The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

A real estate professor weighs in on the future of MLSs

According to research done by Sonia Gilbukh, a real estate professor at Baruch College, there are some reasons to be concerned about the current number of real estate agents and the future of MLSs.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

InvestmentsPolitics & Money

OCC worried banks are padding profits

Comptroller of the Currency Thomas Curry is concerned banks are padding profits by releasing too much of their reserves for loan losses.

Collective bank earnings increased higher than the year before for 12 straight quarters now, he told a Wall Street lobbying group the Financial Services Roundtable this week. This shows a finance industry recovering well from the crisis, but he said banks are adding provisions to their reserves at historically low levels, and it remains below what losses they’re charging off.

“I worry that too much of the increase in reported profits is being driven by loan loss reserve releases,” Curry said in his speech.

Banks earned a collective $34.5 billion in the second quarter, up 17% from one year ago, according to the Federal Deposit Insurance Corp.

At the same time, loss provisions declined by more than 26% to just over $14 billion while operating revenue increased less than a full percentage point, FDIC data also shows.

He added allowances could return to historic lows in “just a few years,” while banks and thrifts are still taking “elevated levels of risk.”

“In the U.S., the housing market is soft and unemployment remains stubbornly high,” Curry said. “The economy is taking much longer to emerge from this downturn than from past recessions. With so much uncertainty here and abroad, the industry needs to maintain strong reserves.”

jprior@housingwire.com

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Existing home sales pop the 2021 housing bubble boys

So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5,640,000. Even with the unhealthy home price gains that we have seen in the last two years, more Americans have bought homes with mortgages in 2020 and 2021 than any single year from 2008-2019, and this looks perfectly normal with our current demographics. HW+ Premium Content

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3d rendering of a row of luxury townhouses along a street

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