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Q4 Mortgage Volume: Weak Overall, Worse For Banks And CUs

Data across Curinos’ retail consortium reveal that independent mortgage banks outperformed depository institutions amid a broader contracting market in the latest quarter.

Average mortgage volume across the market in Q4 2023 was down 25% from their levels in the third quarter.  IMBs were down 23%, while banks and credit unions saw a 28% drop Q/Q (see chart). This five percentage point gap was largely a result of stronger appetite for loans held for sale following a decline in rates from their October highs – this decline stimulated conforming and government offerings and constrained non-agency demand. 

Balance sheet lending continued to be less of the total mortgage volume. This decline may be a response to proposed changes to capital requirements that disproportionately impact the competitive advantage held by banks and credit unions.  

Quarterly Retail Volume Change by Institution Type | All Products | Funded | Q423 vs. Q323​

A decline in balance sheet lending, prompted in part by changes to capital requirements, and a stronger appetite for loans held for sale help explain the gap in lending volume between IMBs and depositories

Source: Curinos LendersBenchmark Analyzer

June 6, 2024

AI’s Value Prop: A Cheaper Path To Customer Primacy

The various product lines at banks are in constant competition for customer attention. But uncoordinated messaging comes with a high cost: Curinos analysis shows that the typical FI leaves $70 per customer on the table because relationship nurturing is poorly orchestrated across channels.
READ TIME: 1 MIN

June 4, 2024

DAF Levels Are Down. What Can Be Done?

As commercial deposits shift away from DDA, the loss of deposit administration fees (DAF) is a key impact. DAF are the largest single charge in treasury management, totaling more than 15% of fees at most TM banks.
READ TIME: 1 MIN

May 30, 2024

Defining Personalization Is The First Step Toward Greater Adoption

There’s a lot of talk about personalization in banking these days and a lot less action. In Curinos’ new Personalization Benchmarking Study, most of the responding FIs say less than 25% of their marketing is personalized.
READ TIME: 1 MIN
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