Repo lines, a type of warehouse financing, are being trimmed left and right these days as originators move to save money. A surprise? Not exactly, but it seems the filers are proliferating.
The approaching midterm elections have once again sparked debate on when the FHA will announce a reduction in insurance premiums. Will the Biden administration use an MIP cut to stoke Democratic support?
After a couple of years where annual home price growth averaged 20%, analysts expect prices to flatten or even decline. And it’s possible the conforming loan limit set for 2023 will remain in place for all of 2024.
The CFPB’s fair lending director in a new blog post reminded borrowers they can use reconsideration of value processes to question appraisals. The post came with a more subtle message directed at lenders: Make your ROV processes as easy to use as possible.
Nonbanks have been concerned about Ginnie’s new capital standards, but perhaps the agency has seen the light? Or at the very least, a compromise? Meanwhile, MSR auctions are picking up a head of steam.
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.
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