“Synchronizing bi-merge credit reporting with the implementation of the new credit score model requirements will reduce complexity for market participants,” said FHFA Director Sandra Thompson.

NYCB’s fourth-quarter results went from a $252 million net loss as reported Jan. 31 to a $2.71 billion loss.

“The recent boomerang in rates has dampened already tentative homebuyer momentum as we approach the spring, a historically busy season for homebuying,” said Sam Khater, chief economist at Freddie Mac.

Rather than hedging MSRs, UWM relies on its origination capabilities and sells some MSRs.

Ginnie Mae's revisions come one day after the FHA raised the maximum loan limit for Title 1 loans on manufactured housing.

Lenders should shift their marketing spend from trigger leads to other sources, according to Jimmy King, CEO of BankingBridge, a mortgage marketing technology company.

Mat Ishbia, chairman and CEO of United Wholesale Mortgage, suggested that competition from nonbanks is helping to push banks out of the mortgage market.

Banks' income from mortgage banking operations declined by 24.6% in the fourth quarter.

UWM's margins declined slightly in the fourth quarter but, for the full year in 2023, were well above the level seen in 2022.