A 35-year veteran of residential finance — including more than a decade at Wells Fargo — Ken Logan is leading Huntington’s foray into warehouse finance. Also on the menu: loans backed by servicing rights.
The former Freddie executive said eliminating mortgage servicing rights, or transferring them to the GSEs, would eliminate the need for nonbank mortgage servicers to make servicing advances on delinquent loans.
The cost of a credit score for originations is set to increase by 41% in January. The plan prompted trade groups representing lenders to renew calls for regulators and Congress to address pricing practices for credit reporting products.
The Trump administration and Republican leadership in both houses of Congress will likely lead to the reversal of many Biden-era fair lending and equitable finance rules and guidelines, but affordable housing is still a bipartisan issue.
In 2020 when rates were hitting rock bottom, nonbanks — public and private alike — lined up to issue debt in the form of unsecured notes. But 2025 is just around the corner and those instruments need to be refinanced or paid off.
Declining interest rates helped to boost refi originations in the third quarter. United Wholesale Mortgage more than doubled its refi business. Meanwhile, purchase-mortgage volume declined slightly. (Includes five data tables.)
The MBA is focusing on regulatory reforms to help reduce the cost of mortgages. There is also some hope that Congress will pass legislation addressing trigger leads.
Additional warehouse providers mean more choices for nonbank mortgage companies. But with mortgage rates headed north once again, will it matter all that much?
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