Losses on Mortgage Banking Narrow in Second Quarter August 18, 2023 Brandon Ivey Each mortgage originated in the second quarter of 2023 generated an average pre-tax net loss of $534, compared to a loss of $1,972 per loan in the first quarter, according to the MBA.Read More
Short Takes: Interest Rates Expected to Decline / Small Cuts to Staff / Home Prices in California Rebound / Fay Servicing Upgraded August 18, 2023 Brandon Ivey Industry economists project that interest rates on mortgages will peak during the third quarter...Read More
Shellpoint Loses Some Share in Non-Agency MBS Servicing August 17, 2023 James Dohnert Shellpoint handled servicing on $3.10 billion in non-agency MBS issued in the second quarter of this year, a 33.2% decline from the previous quarter.Read More
Short Takes: PrimeLending Adds LOs / Servicer Using Blockchain / New Construction Share of Home Sales August 17, 2023 Brandon Ivey Not all lenders are cutting staff...Read More
Concerns About MSRs and Capital Overblown? August 14, 2023 Paul Muolo "None of the 25 banks (that I know of) are remotely close to this cap," said one servicing advisor...Read More
After a Multi-Year Low, Ginnie Loan Removals Spike in 2Q23 August 14, 2023 Brandon Ivey In case you didn't know, thanks to higher interest rates, the Ginnie "early buyout" game is over...Read More
For Sale: GSE MSRs With No Delinquencies August 14, 2023 Paul Muolo The loans backing the MSR portfolio hail from Alabama, Florida, Louisiana, Mississippi and Texas...Read More
Select Portfolio Servicing Placed Into a ‘Bad Bank’? August 11, 2023 Paul Muolo Has UBS given up on owning a servicer?Read More
GSEs to Phase Out COVID Servicing Policies August 10, 2023 Dennis Hollier Most pandemic-era flexibilities regarding QRPC, forbearances and loan-modification plans will sunset Nov. 1.Read More
United Wholesale’s Earnings Propped Up by MSR Sales August 10, 2023 Brandon Ivey Year-to-date, UWM has booked nearly $1.4 billion in proceeds from sales of MSRs and excess MSRs.Read More
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