Rate locks for purchase mortgages declined from April to May. Numerous factors are depressing demand for the loans: higher interest rates, accelerating home prices and inflation.
PE shops have quietly entered the MSR arena as owners, reaping strong gains. How long they might stick around depends on the direction of interest rates.
Foreclosure filings last month nearly tripled from a year ago, according to Attom. However, the analytics firm said foreclosure activity is getting back to normal after two years of government intervention that led to historically low levels of default.