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Short Takes: Pipeline Protection? The GSEs? / A Wholesale Issue / Phoenix Capital Offers Bulk MSRs / A Loss for Impac

August 13, 2021
Paul Muolo, Brandon Ivey, and Dennis Hollier
JMP said it sounds like “these actions” by the GSEs “primarily targeted nonbank wholesale channel lenders, of which UWM [United Wholesale Mortgage] and HMPT are among the largest.”
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Private MI, FHA Market Shares Rebound in Second Quarter

August 12, 2021
John Bancroft
Credit losses at the private mortgage insurers fell 47.5% from 1Q21 to 2Q21...
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A Slim 2Q Profit for Guild, A Loss for Finance of America

August 12, 2021
Paul Muolo
The "Big Kahuna" of mortgage banking, Rocket Companies, reports 2Q21 results after the stock market closes on Thursday...
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CFPB Gives Servicers Decent Grade on Forbearance Work. However…

August 11, 2021
Lisa Burden
The agency noted, “A few servicers were outliers, reporting relatively higher average time to answer and abandonment rates.”
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Depositories Report 2Q21 Slump in Mortgage Banking Income

August 10, 2021
John Bancroft
Overall, Wells Fargo continued to post the biggest earnings of the group...
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An Ugly 2Q Loss for Home Point as GOS Plunges

August 10, 2021
Paul Muolo
The mostly wholesale originator (71.8% of production) funded $25.5 million in loans during the April-to-June period, down 13.5% sequentially.
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Servicers Face Busy Autumn Thanks to Forbearance Exits

August 10, 2021
Monica Hogan
Black Knight: “While some borrowers will elect to leave forbearance early between now and their final expiration, servicers are still facing significant operational challenges"...
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Yet Another Gain for Mortgage Employment

August 9, 2021
Paul Muolo
Another record reading for mortgage employment? Looks that way...
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Wholesale Loses Ground in 2Q21, Correspondent Gains

August 9, 2021
United Wholesale Mortgage remained the top seller of broker loans with $41.07 billion during the second quarter, a 2.5% drop from 1Q21.
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Agency MBS Issuance Down in July Despite Ginnie Mae Gain

August 6, 2021
John Bancroft
The two GSEs securitized $98.14 billion of refi loans in July, the lowest monthly volume since March of last year, when the Federal Reserve sparked a massive refi market by pushing interest rates to record lows.
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