Investment bankers that buy and sell mortgage servicing rights are starting to feel like the Maytag repairman. But deal activity is set to improve in the first quarter of 2020, or so they hope.
Credit unions, however, continued to grow their holdings of home-equity loans, up 1.9% to $92.5 billion as of the end of the third quarter. New HEL originations edged up 0.7% from the previous period to $9.7 billion.
Private-label commercial MBS issuance likely will climb to $120 billion in 2020 thanks to low interest rates and benign commercial real estate conditions. But there's a never-ending storm cloud: retail.
Financial regulators are backing “responsible use” of alternative data in loan underwriting but there are still many uncertainties, particularly in the world of residential finance. More to come? Indeed.
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