The regulator of Fannie and Freddie wants the enterprises to pay close attention to the asset values their customers are placing on their MSR portfolios. Meanwhile, the mortgage company IPO market is dead. Right?
The correspondent channel accounted for 40% of Wells’ originations in 2022, and the bank ranked third among all lenders in the channel. Still, some see Wells’ move as a positive step for the mortgage industry.
The Federal Housing Finance Agency, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau have a number of mortgage-related rulemakings in the works, according to their policy agendas.
Tongues were wagging late in the week concerning a possible $85 billion package of MSRs hitting the auction circuit. Some suggested it might turn out to be a privately negotiated deal with two buyers.
The mortgage servicer reached a relatively modest settlement with the Massachusetts Attorney General’s Office to resolve alleged violations of mortgage servicing and debt collection regulations.
A new year has commenced, with originators of all sizes trying to figure out the best way to stay afloat until rates fall markedly and conditions improve. The biggest challenge, perhaps: cash burn.
Agency MBS still accounted for the biggest chunk of outstanding home loans, and it's all virtually immune to refinancing. Retained whole-loan portfolios were the fastest-growing sector in the third quarter. (Includes three data charts.)