Finance of America is ready to unload the last remains of its MSR portfolio. But it comes at an interesting time: Rates continue to fall, thus impacting asset prices.
Economists project a modest uptick in mortgage originations next year as interest rates are expected to continue to fall. But the decline in rates will depend on how quickly inflation comes under control.
The GSEs’ new multifamily loan acquisitions came to just $82.7 billion in the first 10 months of the year. That was down 23.8% from the first 10 months of 2022.
With the cost of credit reports rising, many lenders have begun increasing their use of cheaper soft pulls for borderline borrowers. However, lenders say credit bureaus are raising the price for those as well.
When it comes to warehouse finance of nonbanks, one lender’s exit could be another’s opportunity for future growth, at least that’s what executive Kevin Mitzit of Wintrust is hoping for.
A proposal from the Federal Communications Commission could sharply limit lead generation activity. Meanwhile, the CFPB apparently can’t do much about trigger leads and legislation in Congress hasn’t moved.