Mortgage lending and secondary market activity generated a modest increase in earnings for a diverse group of publicly held companies, according to a new Inside Mortgage Trends analysis of earnings reports. At the same time, servicing income was down substantially. The 13 companies included in the roundup reported a combined $816.3 million in income from production-related activity during the third quarter. That was up 2.8 percent from the ... [Includes one data chart]
Meanwhile, acting Ginnie Mae President Michael Bright still awaits Senate confirmation, even though he was officially nominated to the post by President Trump on May 15.
With many consumers shopping at brick-and-mortar stores this holiday season, mortgages on department stores and shopping malls that are included in commercial MBS will likely see good performance in the end of 2018, said DBRS. [Includes one data chart.]
After several years of deliberations on how Fannie Mae and Freddie Mac use credit scores, the Federal Housing Finance Agency last week proposed a new rule on how the government-sponsored enterprises would consider new scoring methods.