Fannie, Freddie and Ginnie saw a modest 4% increase in purchase-mortgage business during the third quarter, not nearly enough to offset the ongoing collapse in refinance activity. (Includes two data charts.)
Servicing rights to the rescue again? The third quarter is in the rearview mirror and it’s time for MSR owners to assess the asset value. But just how cautious should owners be? Some advisors worry.
The government guarantor is considering making its pandemic-era pass-through assistance program credit facility for nonbanks permanent. And it comes at a pressing time.
In what is likely to be the last legal wranglings in Fairholme v. FHFA before its long-awaited jury trial begins, Judge Lamberth dealt Fannie/Freddie shareholders a modest defeat.
Rushmore Loan Management is exiting the servicing arena but details are light regarding who might control its multi-billion-dollar MSR portfolio. For now, management isn’t saying a word.
The CFPB’s 2020 rule, exempting some institutions from Home Mortgage Disclosure Act reporting, was found to be arbitrary and capricious by the D.C. District Court.
In yet another cost-cutting move, loanDepot is halting 401(k) matches while some of its top brass will get raises. Meanwhile, is there relief on the way for low-balance mortgages? HUD is trying to lend a helping hand.
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