Commercial banks, so far, have turned in underwhelming mortgage results for the second quarter, but that was to be expected. The real show starts in a few weeks when publicly traded nonbanks release earnings.
The market for MSRs is now divided between portfolios with loans originated prior to 2022 and portfolios with loans that have prevailing interest rates, prompting some shifts in practices among servicers and investors.
The mortgage IPO market is in tatters these days, given higher interest rates and rapidly shrinking profits and originations. So why does fintech Better.com think it can pull off a deal?
The Consumer Financial Protection Bureau is likely to move forward with the QM definition established in late 2020, with possible tweaks to seasoned QMs, according to industry participants.
Officials are examining multiple factors, including current housing and economic conditions, as well as trade-offs within the Congressional appropriations process, when considering a reduction to FHA mortgage insurance premiums.
A year ago, most mortgage workers could name their price and be compensated at levels never experienced before. And today? It’s a whole different world, with lenders lopping off hundreds, if not thousands of jobs.
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