pmuolo@imfpubs.com

We understand that a fairly large “franchise” deal is in the works, involving a servicer that doesn’t engage in home lending. Whether the sale comes to the altar is a different question. It's the company’s second trip, at least, to the auction block. Stay tuned…

Home lenders are up against it when it comes to refis, they know that. But why isn’t the purchase-money market stronger? Every mortgage CEO knows the answer to that as well: lack of available homes to buy, especially in the starter-home market…

Meanwhile, a new report from ICE Mortgage Technology states there’s been a “moderate cooling” in home prices the past “couple of months." Also: As of mid-May, purchase applications were running 45% below 2018/2019 same week averages…

Anecdotal home price observation: A four-bedroom home in Silver Spring, MD, less than a half-mile walk to the Metro commuter train, listed for $975,000 at the open house on Sunday, June 2. The very next morning there was a sold sign on the house. We don’t know the final bid price but speculation among neighbors is $1.0 million to $1.1 million. Reason: No inventory…

Keefe, Bruyette & Woods on Sunday upgraded mortgage insurers MGIC and Radian to “outperform” from “market perform.” One reason: The MI sector is well positioned to generate mid-teens book value growth.

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