The residential finance industry is hoping the Federal Reserve and/or the GSEs might come to the rescue by playing a role in driving down mortgage rates. How’s it looking, then? Not so good.

Beginning in 2024 cities and counties in California can adopt ordinances to let an accessory dwelling unit be sold or conveyed separately from the primary residence.

New programs from United Wholesale Mortgage and The Loan Store highlight the unique ways lenders are pushing for wholesale broker business in today’s high interest rate environment.

The comment deadline is now Jan. 16 and the Fed launched a data collection effort; Homestar Financial calls it quits.

The GSEs saw an uptick in uninsured mortgage business from the second to the third quarter, while FHA purchase and refi volume surged. (Includes three data tables.)

Extending rep-and-warrant relief to loans that successfully exit COVID-19 forbearance could further reduce the already small volume of buyback requests.

Mark Jones, 2024 chairman of the Mortgage Bankers Association, sympathized with lenders who are going through the uncertainties of a steep market downturn.

The proposed capital rule would not only push banks to rethink their mortgage activity, it would also concentrate a lot of lending power on Wall Street, according to panelists at the MBA’s annual convention.

Protecting customer relationships should be increasingly important for servicers now as the connections will be valuable when interest rates eventually drop, said panelists at the MBA’s annual convention.

Third-quarter results from the publicly traded megabanks have arrived. The mortgage read: mostly lower originations, but higher MSR marks.