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Large GSE Servicers Growing Via Acquisitions

November 2, 2023
Dennis Hollier
Acquisitions helped boost Mr. Cooper to the third largest GSE servicer as of the end of September, up from number eight in the ranking as of the end of June.
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MBA: Next Move by Fed Will Be a Rate Cut

November 2, 2023
Brandon Ivey
The Fed held rates steady Wednesday and the MBA anticipates that the next action will be a cut in 2024.
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Industry Participants Ramp Up Training on Appraisal Bias

November 2, 2023
Sam Manas
The GSEs are collaborating to create appraisal bias training for the appraiser community.
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Change Resolves CDFI Status Issues

November 2, 2023
James Dohnert
Change Lending has come to an agreement-in-principle with the CDFI Fund to regain its CDFI good-standing status.
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Short Takes: Zillow Boosts Originations / Figure Offers HELOC Tech / Sterling Bank and Trust Turns to Rocket / CHLA Seeks Streamlined Exams by States

November 2, 2023
Brandon Ivey
Zillow's production increased 35% from the second quarter.
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Rising Expenses, Loss in Court Cut Into GSE Profits

November 2, 2023
Dennis Hollier
Lower benefits for credit losses and an adverse decision in court undercut slight increases in revenues for Fannie Mae and Freddie Mac.
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Mortgage-Banking Income at Banks Increases

November 1, 2023
John Bancroft
Among a group of 26 banks, mortgage banking income increased by 9.9% in the third quarter.
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Freddie Mac Treads Water in the Third Quarter

November 1, 2023
Dennis Hollier
Freddie's quarterly profits took a (presumably) one-time hit from expenses accrued due to the Fairholme v. FHFA decision in August.
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MBA Cautions Against FSOC Designations for Nonbank Mortgage Companies

November 1, 2023
Brandon Ivey
FSOC plans to set new standards for applying a “systemically important financial institution” designation to nonbank financial companies.
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CFPB Proposal on Open Banking Excludes Mortgage Companies

November 1, 2023
Sam Manas
With the CFPB's open banking proposal, consumers would be able to connect checking, credit card, digital wallet and prepaid accounts to third-party institutions in order to access different products and services.
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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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