If you’re looking for some good news regarding the mortgage sector, take a peek at MSR values for 1Q22. They increased nicely, offering some shops a financial boost of sorts.
Receiving borrower tax transcripts from the IRS, which usually takes 48 hours, is stretching on for weeks since the start of the tax filing season, according to lenders.
The company sees demand for contract underwriting from mortgage lenders trying to originate purchase mortgages and other new products amid margin compression.
The new option is for borrowers who cannot achieve at least a 25% reduction in the principal and interest portion of their payment through a 30-year loan modification with a partial claim.
The mortgage origination “correction” has arrived, with some shops pondering their options. As one dealmaker put it, “Many lenders will need to find a safe port in the storm.”
Lenders argue the temporary measures adopted by Fannie and Freddie to promote condo safety unnecessarily raise costs for borrowers and present liability issues for HOAs and cooperatives.
In years past, LendingTree’s Doug Lebda was one of the industry’s highest paid executives. In a few weeks we’ll get a look at his 2021 compensation package. Also, Ocwen’s chief received a nice raise last year.
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