Delinquencies increased in the fourth quarter as borrowers faced growing financial pressure. Still, some of the increase in delinquencies looks to be related to a quirk in the calendar. (Includes data tables.)

The Mortgage Bankers Association took Treasury Secretary Janet Yellen’s remarks as an opportunity to reiterate industry concerns about the Basel III endgame proposal.

A mini-price war from UWM and it’s not even March. As one warehouse veteran put it: “It’s a little like the old Rockefeller tactic of pricing out the competition. It seems to work, but at a cost.”

Banking regulators appear to be taking criticism of their capital requirements proposal to heart. The impact the proposal would have on the mortgage market remains a major issue.

Servicing sales are off to a strong start in the new year, especially now with Federal Reserve interest rate cuts hardly a sure thing. Another factor is a fresh round of available capital from investors.

NYCB took an unexpected loss in the fourth quarter tied to commercial loans and its multifamily business. The bank was then downgraded by Moody’s.

Most of the companies that grew their owned servicing significantly in 2023 tapped a vibrant secondary market in bulk agency MSR. (Includes three data tables.)

Mortgage REIT Two Harbors hopes to save a ton of money by servicing its $215 billion-plus MSR portfolio in house. It also wants to be a major player in the subservicing arena and is building an origination platform to protect against a refi wave.

Not every mortgage company can issue unsecured notes at a decent price, but a handful of larger shops can, especially if they own a ton of servicing rights.

Three-plus weeks into the new year, a handful of large servicing deals are afoot. Arvest Bank is an active seller and Wells Fargo is contemplating its options as well.