“US lenders are starting to go bankrupt with new mortgages down 47%…”
January 20, 2023
“…A report from ATTOM reveals that new mortgage originations were down 47% in the third quarter of 2022 compared to the year before. That’s a 19% decrease from the previous quarter and represents the biggest annual drop in 21 years. And while the chill in the market affects all lenders, non-bank lenders — especially those who deal in NQM — are bearing the brunt of it…
Most housing market watchers believe today’s conditions — led by stricter lending rules — mean the U.S. is likely to avoid a 2008-style housing market meltdown.
But failures among non-bank lenders could still have a significant impact. The NQM share of the total first mortgage market has begun to rise again: NQMs made up about 4% of the market during the first quarter of 2022, doubling from its 2% low in 2020, according to CoreLogic, a data analysis firm specializing in the housing market…”
https://finance.yahoo.com/news/mortgages-down-55-us-lenders-100000026.html