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State Regulators Streamline Exam Standards for Nonbanks

March 6, 2024
Brandon Ivey
State agencies established a set of mortgage and exam programs through the State Examination System.
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MSR Owners Facing Pressure From Escrows, Interest Rates

March 5, 2024
Brandon Ivey
Mortgage borrowers' obligations for property taxes and insurance are rising and interest rates are projected to fall, a foreboding combination for MSR investors.
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Short Takes: New Cybersecurity Reporting Requirement / Biden Pressed on Affordable Housing / Non-QM Delinquencies Not Leading to Many Losses / New CRT From Fannie

March 5, 2024
Brandon Ivey
Effective immediately, Ginnie issuers must notify the agency of any cybersecurity incident within 48 hours after the issue is detected.
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VA Mortgage Assumptions Jump in 2023

March 4, 2024
Monica Hogan
VA processed 2,244 loan assumptions in 2023, compared with 308 in the previous year.
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Short Takes: Recapture Tip / Home Prices Overvalued / MSR Values Improve / AI Help on Guidelines

March 4, 2024
Brandon Ivey
Servicers retained only about 20% of borrowers that refinanced their mortgages during the fourth quarter of 2023.
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UWM Selling MSRs Rather Than Directly Hedging

February 29, 2024
Brandon Ivey
Rather than hedging MSRs, UWM relies on its origination capabilities and sells some MSRs.
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Banks Could See Preemption Win in Supreme Court Case

February 28, 2024
Shannon Clark
The Supreme Court heard oral arguments Tuesday on whether states can require banks to pay interest on funds held in servicing escrow accounts.
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Mortgage Income at Banks Drops in Fourth Quarter

February 28, 2024
Andras Malatinszky
Banks' income from mortgage banking operations declined by 24.6% in the fourth quarter.
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MSR Fair Values Drive Loss at UWM in Fourth Quarter

February 28, 2024
Brandon Ivey
UWM's margins declined slightly in the fourth quarter but, for the full year in 2023, were well above the level seen in 2022.
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Short Takes: Cyber Attack to Cost loanDepot at Least $12 Million / Mortgage Applications Decline / Home Prices Up in December / Sales of New Homes Increase / Pretium Sells a Stake

February 28, 2024
Brandon Ivey
Insurance won't fully cover loanDepot's expenses from a cyberattack that occurred in January.
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