KBW believes the Freddie announcement could improve valuations for mortgage servicing rights “as the market reduces its expectations for potential servicing advance costs.” 

For starters, FHA doesn’t have LLPAs in its toolbox. Then what?

Even more noteworthy: First Republic hasn’t issued any non-agency securities since the market meltdown of 2008.

Combined, the two companies would have $310.5 billion of MSRs, ranking 10th overall, according to Inside Mortgage Finance.

New insurance written by the industry’s six active private MIs fell 13.8% from the fourth quarter, while combined FHA/VA production rose 6.2%.

The new policy applies to borrowers who can afford to resume making their regular monthly mortgage payments, but are unable to cover the remittances they missed during forbearance...

One California-based loan broker who received notification of the rollout said he plans to try the program even though he hasn’t table-funded through UWM in a while.

PennyMac Financial Services said margins were helped by reduced competition due to tighter underwriting standards as some firms suspended lending activities altogether...

The result: The buildup of payoff funds dramatically reduces the P&I advance requirement...