Rising interest rates increased the fair value of banks’ MSRs in the second quarter but servicing for others was essentially flat. (Includes data chart.)

The Southfield, MI-based bank expects fixed-cost savings of roughly $3 million a year from using MortgagePath for originations and the vendor will be responsible for compliance issues.

Institutional investors have driven down the debt prices for several publicly traded nonbanks this year. But some are better off than others.

Before the pandemic, lenders sold their MSR 80% of the time but after COVID, they retained 70% of their MSRs. Now, the split is 55/45.

Many student loan borrowers are set to receive significant debt forgiveness. Though millennials often cite student loan debt as an obstacle to homeownership, industry analysts believe it will take time for the relief program to impact home sales.

Builder sentiment has declined for eight consecutive months, and it’s all related to housing affordability, said Robert Dietz, chief economist at the National Association of Home Builders.

Reali to close and hopes to sell its mortgage origination business; Sun West Mortgage launches cash-offer product with NFT component; delinquencies increase in July; Blend offers home-equity lending product; Fitch confident home prices won’t crash like in 2008; Staircase offers new origination tech.

The overall delinquency rate in agency MBS inched up to 1.97% at the end of June. All of the increase in late payments was seen in the Ginnie Mae program. (Includes data chart.)

It’s been a bit quiet on the mortgage company M&A front the past few months, but a few deals are getting done, including Two Harbors agreeing to buy RoundPoint Mortgage.

A bill brought by Democrats that would allow consumers to require the consideration of alternative data such as rent and utility payments in underwriting their mortgage recently cleared the House Financial Services Committee.