The new guidelines, which go into effect Aug. 6, require seller/servicers to have clear policies in place to mitigate the risks posed by this technology and to ensure it complies with existing laws and regulations.

“Independent mortgage banks have navigated the most volatile interest rate cycles in a generation without a taxpayer backstop,” according to Pennymac.

The heads of FHFA and HUD were planning to make a "major housing announcement" today, though the press conference was postponed.

Mat Ishbia, president and CEO of United Wholesale Mortgage, hopes that “things will calm down, globally” to help reduce interest rates.

A provision in the proposal would remove the requirement for banks to deduct mortgage servicing rights that reach a certain cap from common equity tier one capital and replace it with a 250% risk weighting on the assets, which might not be low enough to incentivize banks to increase their MSR holdings.

“30+ day impairments soared 51 basis points month-over-month in February, marking the largest monthly increase outside of COVID and Sunday month-end effects,” according to dv01.

Home prices increased by 0.1% on a monthly basis in January, according to the Federal Housing Finance Agency.

NEXA's new initiative would allow originators to share in recurring revenue streams tied to loan performance.

As part of the agreement, CrossCountry paid $25.4 million to United Wholesale Mortgage, a termination fee to end the acquisition agreement UWM had with Two Harbors.

Nine expanded-credit MBS deals hit the market this week. The number the week before: one.