When did the salary inflation start? Back in April — when the COVID-19 pandemic accelerated in the U.S....

The trend of sharply declining repurchases commenced in 2014 as investors and sellers began settling buyback claims on mortgages dating back to before the financial crisis.

Fun fact: Among the top 10 wholesalers, not one is a depository…

Mortgages in the deal have an average combined LTV ratio of 87.8%.

Although the forbearance program was extended by the FHFA, it still looks expensive to lenders at 500 to 700 basis points...

When was the last time the market saw a publicly traded wholesale-only lender?

Once again, the NFIP is on the brink. Will Congress ever get its act together? 

Meanwhile, depositories upped their production game by 48% compared to the first half of 2019...

One last observation: Over the past month we’ve talked to no one who believes 2021 will be a train wreck. Several expect it to be a strong year, just but not as good as 2020…

The only declines in IO production among the group were at non-depositories...