Errors in the model Fannie uses to calculate income during a stress test led the enterprise to underestimate profits in both its 2021 and 2022 stress tests.
Mr. Cooper’s servicing portfolio is expanding while the number of employees in the nonbank’s call center is declining. Investment in technology is helping to reduce costs and fuel servicing growth.
Volumes are down and lenders are racing to cut costs, but some of their approaches may not be the best for long-term success, a Stratmor analyst said. He suggested lenders update their LO comp structures.
New research shows that when mortgage companies use minority actors in their TV ads, viewers are more likely to apply for a loan with that lender. Borrowers also showed more brand favorability.
A new paper by Harvard University’s Joint Center for Housing Studies has called for policymakers and mortgage lenders to play a larger role in removing barriers to homeownership for immigrants.
SEC approves Better-Aurora merger; FICO increasing mortgage revenue as originations decline; Rithm to spin off most of its origination/servicing business; impact of revised capital requirements for large banks.
New business and MBS issuance jumped in the second quarter. However, those upticks didn’t account for the spike in profitability at Fannie Mae and Freddie Mac. (Includes data chart.)
Real estate investment trusts are optimistic about the agency MBS market even with anticipated short-term volatility amid turmoil in the banking industry.
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