The Mortgage Layoff Total for January: 5,000 March 10, 2023 Paul Muolo In January of last year, mortgage banking shops employed 280,900 — or 46,500 more.Read More
Short Takes: Guaranteed Rate Loses DM Bolan / Crypto Customers? That’s a Problem / SVB Goes Down / Guild Posts a Rare Loss but Is Seeking Deals / Angel Oak’s General Counsel Ready to Depart March 10, 2023 Paul Muolo Angel Oak's general counsel is departing at the end of April...Read More
More Red Ink for loanDepot, GOS Slips to 145 BPs March 9, 2023 Paul Muolo The Irvine, CA-based lender/servicer — like most originators — has been slashing staff and other costs...Read More
Subservicing Growth Tepid in 4Q22. A Temporary Lull? March 8, 2023 Paul Muolo Data point: Roughly 31% of all residential loans are subserviced by a vendor that doesn't own the servicing "strip"...Read More
February, a Tough Month for GSE Loan Sales March 6, 2023 Dennis Hollier The top three sellers for February: UWM, PennyMac Financial and Rocket Mortgage...Read More
FTHBs Catch a Bit of a Break, but DTIs Rise March 6, 2023 John Bancroft The average FTHB debt-to-income ratio rose to 40.6% in the fourth quarter...Read More
For Banks and Thrifts, a Downward Path for Mortgage Earnings March 6, 2023 Namrata Bhatia JPMorgan Chase made a sharp reversal into the black...Read More
Another Ugly Reading for Mortgages: February MBS Issuance Hits 18-Year Low March 3, 2023 John Bancroft For the sixth month in a row, Ginnie was the top agency issuer...Read More
Commingle Activity Remains Limited in Second-Level MBS from GSEs March 2, 2023 John Bancroft FHFA's plans to reduce the fee on commingled securities from the GSEs followed another quarter with limited commingling.Read More
A (Relatively) Small Loss for UWM, Company Sees GOS Rising for 1Q23 March 1, 2023 Paul Muolo The fair value of UWM's MSR portfolio fell by $150.8 million during the fourth quarter.Read More
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