The change affects new loans endorsed on or after March 20. The last MIP cut occurred in early 2015, when FHA trimmed premiums by 50 bps for 30-year fixed-rate mortgages.

By booking a higher provision for credit losses in the third quarter, Freddie set the stage for improved financial performance in the fourth.

MBA’s Bob Broeksmit this week criticized the 250% risk weighting placed on mortgage servicing rights held by federally insured depositories. Meanwhile, several top-ranked servicers discussed issues and challenges they’re facing, from forbearance to automation and beyond.

The delinquency rate was pushed up during the fourth quarter by a weakening economy and inflation. The unemployment rate is projected to increase this year, which will likely drive delinquencies higher. (Includes data chart.)

The sale of mortgage company “assets” are increasing while “franchise” deals remain few and far between. What lies ahead? In a few quarters we may see larger shops merge, one consultant predicted.

Most Fannie Mae and Freddie Mac policies regarding loan eligibility have returned to pre-pandemic standards.

Bulk servicing packages continue to hit the open market as the first quarter draws to a close. Meanwhile, Mr. Cooper puts a number on its 2022 layoffs, burying the disclosure in an SEC filing: 1,200.

Following Jay Farner’s surprise move to retire, the mortgage company has retained a “leading firm” to consider both internal and external candidates for the CEO position.

Loss provisions and declining volumes spell lower profits going forward. However, Fannie’s capital requirements remain elevated.

MSR sales hit a record in 2022 and even more sales are expected both this year and in 2024. The jump in supply is presenting investors with attractive opportunities.