Over the past two years, Marlin Mortgage has made a name for itself as a buyer of conventional servicing rights. Now it is ready to pounce in the Ginnie market. A new proposed company acquisition may help.
While homeowners have record amounts of tappable equity, home-equity lenders face some challenges, navigating both a decline in home prices and rising interest rates.
The failure of nonbanks as a sector “could spark another crisis and tear at the fabric of the economy,” said Yu Shan, assistant professor of Finance at the Whitman School of Management at Syracuse University.
Structural inequities make it more difficult for Black households and other people of color to make on-time rental and utility payments compared to the average white household, the Urban Institute noted in a new report.
Implementation of Ginnie’s risk-based capital requirements delayed; Fitch downgrades ratings of Finance of America, Provident; foreclosure starts decline; new alerts in Freddie’s Loan Advisor dashboard; MISMO seeks comments on three proposals; Staircase offers MSR transfer automation; LoanCare launches HELOC servicing; new LO recruitment tool.
While interest rate hikes are deflating originations, lenders aren’t budging much on underwriting standards for purchase mortgages, based on an analysis of mortgages delivered to the GSEs in the third quarter. (Includes two data charts.)
Among purchase mortgages with primary mortgage insurance, GSE volume declined in the third quarter while FHA and VA volume increased. California also lost its spot as the top source of loans with MI. (Includes two data charts.)
Actions are speaking louder than words as mortgage industry-sponsored political action committees make contributions in the runup to the mid-term election.
RSS