Holders of mortgage servicing rights marked down the assets at the end of September amid a decline in interest rates. Lower rates reduce the value of MSRs by incentivizing refis.
This year will yield fewer sales than the two previous years but those were aberrations. Small MSR portfolios are available, but nothing in the “mega” $10 billion range.
A Black borrower alleged that Rocket Mortgage canceled her refinance application after she repeatedly requested that her home appraisal be revised because it was discriminatory.
A broad cross-section of the industry supports legislation that would reinstate, make permanent and expand eligibility for the mortgage insurance premium tax deduction.
Affordable housing and community development advocates say taxpayers aren’t getting enough for the government subsidy of the FHLBanks. The FHLBanks say critics misunderstand their federal support.
Mortgage applications decreased compared to a month earlier; home prices saw a steady increase for the third month in a row; many mortgage lenders are for simplifying closing cost descriptions; median annual downpayment amount decreases in the third quarter.
More fair lending enforcement actions and investigations could come up over the next few months ahead of potential changes in the political landscape, according to Richard Horn, co-partner at the law firm of Garris Horn.
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