A tougher origination year in 2022? Looks that way, but forecasts can change on a dime when unexpected news alters economic perceptions. Meanwhile, a fist full of nonbank stocks are selling for less than $5 a unit.

The bulk market for MSR sales has never been better, and that’s a bit of a problem. Activity is so robust that due diligence reviews are piling up, delaying deal closings. A good problem to have? It depends on your profit goals.

Early-stage delinquencies jumped in the third quarter, prompting a quarterly increase in the total past-due rate. Many borrowers that have been in forbearance for 18 months are also reaching the end of their payment holidays. (Includes data chart.)

A report by Fitch Ratings forecasts a sharp drop in originations and declining GOS margins that will put pressure on earnings for smaller nonbank lenders.

After settling OCC charges on how it manages subservicing risk, Cenlar faces the possibility some of its clients might bolt for the competition. But will they?

Nonbanks claimed more than half of the owned servicing reported by the top 50 firms in the market as their combined portfolio rose 10% in the second quarter. (Includes three data charts.)

Additional nonbanks could tap the debt market in the months ahead. The reason: rising asset valuations on mortgage servicing portfolios.

The thirst for mortgage servicing rights continues, be it bulk or flow. Meanwhile, Zillow’s foray into fix-and-flip did not end well.

MSRs are no longer the best-kept secret when it comes to value and investor returns. But might the bidding soon get too frothy?

If capital and liquidity requirements for nonbank servicers are too stringent, firms could leave the business and borrowers’ costs for mortgages could increase.