Jumbo Correspondent Share Declines After Wells’ Exit March 28, 2024 James Dohnert Wells was largely done with purchasing jumbo loans through the correspondent channel by the end of the first quarter of 2023.Read More
Better Shifts to Using Commission-Based LOs March 28, 2024 Brandon Ivey Previously, Better’s LOs weren’t paid commissions and the lender focused on using technology to get loan applicants through the mortgage process.Read More
Rithm Capital Preps RTL Securitization March 28, 2024 James Dohnert The deal received a preliminary A rating from Morningstar.Read More
Presidential Election Will Impact Regulatory Environment March 28, 2024 Monica Hogan Mortgage industry policy will be subject to more swings as administrations change, according to Ed DeMarco, president of the Housing Policy Council.Read More
Short Takes: DOL Fine for Emotional Damages / UWM’s Margins Expected to Improve / Growth in Mortgage Payments Outpaces Applicants’ Earnings / Trees Saved From Digital Closings March 28, 2024 Brandon Ivey The fine levied by the Department of Labor for emotional damages followed a whistleblower complaint involving PrimeLending.Read More
Mortgage Profitability Declines in Fourth Quarter March 27, 2024 John Bancroft Earnings from both originations and servicing took another hit in the fourth quarter of 2023.Read More
MBA: CFPB Going Too Far With Proposal on Bank Overdraft Fees March 27, 2024 Brandon Ivey “MBA objects to the bureau’s overbroad interpretation of the scope of its abusiveness authority,” wrote Pete Mills, a senior vice president of residential policy and strategic industry engagement at the MBA.Read More
For Sale: MSRs With a Delinquency Rate North of 5% March 27, 2024 Paul Muolo The delinquency rate on the conventional loans is 5.23%.Read More
Fed’s Losses on MBS Holdings Decline in 2023 March 27, 2024 Brandon Ivey In 2023, the Fed realized a loss of $56 million on its agency MBS holdings.Read More
Short Takes: Figure Lending’s Parent Files Confidential IPO Papers / Slow Start to Spring Homebuying Season / Home Price Depreciation in Large Cities / GITSIT (Formerly Kondaur) Wins NPL Auction March 27, 2024 Brandon Ivey Figure Technology Solutions filed a confidential S-1 statement.Read More