With nonbanks continuing to steal market share away from depositories, warehouse commitments have been going through the roof. Of course, ultra low mortgage rates help...
But there’s something else to think about here. Let’s say Democrat Joe Biden (DE) wins the White House in November. After being sworn into office, will he act swiftly to dismantle this very controversial loan-level private adjustment?...
The top three jumbo originators in 2Q20 were all megabanks: Wells Fargo, Bank of America and JPMorgan Chase. The only nonbank among the top-10: Quicken...
Black Knight said the Fannie/Freddie forbearance measurement fell by 15,000 units while the FHA count increased by 5,000. The private-label/portfolio tally rose by 10,000 loans.
The general consensus is that this new loan-level price adjustment will not be killed outright but very well could be moved back by at least 60 days from its current Sept. 1 implementation date. This would allow lenders facing rate-lock hits to avoid financial damage…
Among the largest servicers, delinquencies increased sharply for some and actually declined for others. However, the differences are tied to how servicers classify mortgages in forbearance...
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