Lack of Clarity on Debt Ceiling a Concern for Lenders May 5, 2023 Monica Hogan The longer it takes Congress to react after a debt default, the bigger the impact will be, according to Cristian deRitis, deputy chief economist at Moody’s Analytics.Read More
Delinquencies on Agency Loans Down in First Quarter May 4, 2023 Namrata Bhatia Improvements in loan performance were seen across Fannie Mae, Freddie Mac and Ginnie Mae.Read More
Rithm’s Income Declines Somewhat in First Quarter May 4, 2023 Brandon Ivey Servicing drove earnings while lending generated a loss.Read More
Ocwen Takes Loss in First Quarter as Servicing Value Declines May 4, 2023 Brandon Ivey Servicing still looks more attractive than lending at the moment.Read More
MSR Transfers Cool Off in First Quarter May 3, 2023 John Bancroft Transfers of agency mortgage servicing rights in the first quarter of 2023 dropped 50.1% compared with the previous quarter.Read More
A Quarterly Loss, but Two Harbors Keeps Buying MSRs May 3, 2023 Paul Muolo The sellers of the MSRs were not identified, but in the past Two Harbors has bought product from banks and nonbanks alike...Read More
Short Takes: Purchase-Mortgage Applications Down / Planet Looking for Retail Shops / FoA Turns to Ocwen / New MBS from Velocity May 3, 2023 Brandon Ivey Applications for refinances increased by 1.0% last week and applications for purchase mortgages declined by 1.0%.Read More
Up for Grabs: $37 Billion of Mostly Non-Agency MSRs May 2, 2023 Paul Muolo The offering circular notes, “The seller will be providing customary representations and warranties.”Read More
CFPB Finds PACE Loans Prompt Increase in Mortgage Delinquencies May 2, 2023 Brandon Ivey The regulator issued a proposed rule to set ability-to-repay standards for PACE loans.Read More
Short Takes: JPM, First Republic and Jumbos / Home Prices Increasing / Change in Non-QM Performance / Another Servicer Slated for Sale / Cook's Comp May 2, 2023 Brandon Ivey and Paul Muolo Chase isn’t going to follow First Republic’s jumbo-lending model.Read More