Rising interest rates helped to lift the value of the nonbank's MSRs.

The civil monetary penalties resulting from the administrative actions were roughly $26.4 million.

Applications declined somewhat as interest rates increased.

The Mortgage Bankers Association raised concerns about the new requirements.

"It’s hard to see how a charge that is clearly disclosed to the borrower before they enter into the transaction ... and only charged once at closing can be said to unreasonably take advantage of consumers," said Peter Idziak, a senior associate at the law firm of Polunsky Beitel Green.

Economists at Fannie increased their projections for originations, citing "our more optimistic home price growth expectation and somewhat lower mortgage rate path, along with an upgraded expectation for home sales."

Sam Khater, chief economist at Freddie Mac, described the issue as “urgent, but manageable,” an opinion shared by others at the conference hosted by Americatalyst.

The share of mortgages with primary MI increased by 2.1% in the first quarter, based on agency MBS issuance.

The bulk of the production at the bank comes through the correspondent channel via AmeriHome.

Securitization of closed-end second liens more than doubled in the first quarter of 2024 compared with the previous quarter.