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Delinquencies, Foreclosures Exceptionally Low in 2Q22

August 18, 2022
Brandon Ivey
The total delinquency rate stood at 3.44% as of the end of June, among the lowest levels seen since the launch of Inside Mortgage Finance’s Large Servicer Delinquency Index in 2003. (Includes data chart.)
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FHFA Tweaks GSEs’ Goals for Multifamily in 2023-24

August 18, 2022
Dennis Hollier
The GSEs will now focus on the percentage of multifamily units that meet affordability standards rather than the actual number.
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CSBS Promotes Cybersecurity Tools for Nonbanks

August 18, 2022
Monica Hogan
The Conference of State Bank Supervisors unveiled two new tools to help state examiners assess nonbanks’ resilience against cyberattacks.
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Sources: Sprout CEO Selling Manhattan Penthouse

August 18, 2022
Sam Manas
It appears that Michael Strauss, CEO of now-shuttered Sprout Mortgage, is looking to sell his Manhattan penthouse on Park Avenue for $26.5 million.
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Equifax Credit Score Snafu May Have Had Wider Impact

August 18, 2022
Dennis Hollier
A plaintiff in a class-action lawsuit claims the Equifax credit score glitch cost her more on auto loan payments.
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Grapevine: A Reduced Mortgage Presence for Wells?

August 18, 2022
Paul Muolo
The market continues to chatter about Wells Fargo’s future in mortgages. Meanwhile, time to cash out of home finance?
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Ginnie Default Rate Rises to 4.17% in 2Q22

August 15, 2022
Namrata Bhatia
At midyear, 806,884 mortgages backing MBS issued by the GSEs and Ginnie were delinquent...
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Margins Could Take a Hit as United Wholesale Aims for Market Share

August 11, 2022
Brandon Ivey
After cutting interest rates on its products in late June, UWM expects its gain on sale to decline from 99 bps in the first half of this year to as low as 30 bps in the third quarter.
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A Respite in MSR Sales and Bids, But Probably Not for Long

August 11, 2022
Paul Muolo
Servicing sales have been a boon to lenders this year as origination volumes head south. But are the good times about to end or is it a market in need of a breather?
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Santander, Others Turning to Rocket for Mortgage Originations

August 11, 2022
Brandon Ivey
Some banks are partnering with Rocket Mortgage on originations. Rocket said banks are having a hard time competing with the nonbank.
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