A handful of top servicers fell out of the market during the second quarter, while banks reported a huge gain in their ARM portfolios. (Includes three data charts.)
Trade groups representing large banks and mortgage lenders warn that a July proposal to increase capital requirements for large banks could push depositories further from the mortgage market.
MSR prices, especially for conventional low-coupon product, have firmed up nicely. Some large holders are cashing in. But others are choosing to live off processing income until originations snap back.
High interest rates are helping demand for mortgage assumptions. A start-up is helping homebuyers connect with sellers that have low-interest-rate mortgages.
The business of subservicing loans for others continued apace in the second quarter with modest growth. The good news: Delinquencies are low but some lenders that source the loans are going bust. (Includes data chart.)
Profit margins are tight in wholesale but that isn’t stopping EPM owner Eddy Perez from converting his national shop into a table-funding-only producer. Will it work? We’re about to find out.
Increased risks from natural disasters have led to a rapid rise in premiums on home insurance, rejections of policy requests and some major insurance providers exiting certain markets.
Early-stage delinquencies increased at large servicers during the second quarter of 2023. Servicers anticipate further declines in loan performance. (Includes data chart.)
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