Is warehouse credit getting so tight that some nonbanks are considering ei-ther purchasing or becoming affiliated with a federally insured depository? Looks that way.
Banks increased reserves for loans held in portfolio during the first quarter on implementation of new accounting standards. Many delayed the impact of CECL on regulatory capital.
Lenders and servicers alike are facing huge challenges due to the coronavirus, with many rising to the operational challenge. However, when it comes to MSR sales, the picture is bleak.
Despite a modest gain in production volume, income from originations and secondary market fell from the third to the fourth quarter. But higher interest rates stabilized performance on the servicing side of the business. (Includes data chart.)
Mortgage REITs came back from the brink this week, but the sector is not out of the woods quite yet. Thanks to the coronavirus, financial uncertainty remains the watchword.
Although secondary market sales by bank mortgage banking platforms were down 8% in the fourth quarter, it still ranked as one of the busiest periods since early 2013. (Includes two data charts.)