HousingWire Daily James Kleimann on mortgage volume and profits in Q2
6 snips
Jul 16, 2025 James Kleimann, the Managing Editor at HousingWire, shares insights on the recent surge in mortgage volumes by major banks like Chase and Wells Fargo, despite profits taking a hit. He discusses the complex dynamics of the mortgage market, touching on the impact of tariff changes and the need for regulatory reforms. The conversation also dives into Bayview's $1.3 billion acquisition of Guild, highlighting contrasting strategies for customer retention. Kleimann paints a vivid picture of the evolving landscape, promising intriguing future trends for the mortgage industry.
AI Snips
Chapters
Transcript
Episode notes
Q2 Mortgage Volume Up, Margins Flat
- Mortgage volume rose about 45% sequentially in Q2 for JPMorgan Chase and Wells Fargo.
- Despite higher volumes, mortgage margins did not increase significantly due to rate volatility.
Wells Fargo Focus and Caution
- Wells Fargo is focusing on mortgage servicing for its own customers rather than correspondent lending.
- The bank remains cautious and is reducing headcount, showing a limited bullish stance on mortgage lending.
Dimon Critiques Mortgage Regulation
- Jamie Dimon sees mortgage banks as overregulated, causing unnecessary costs of 30-50 basis points.
- He argues that current regulations have not helped lower-income borrowers benefit from low rates.