MSR offerings won’t get frothy until mortgage lender/servicers, especially those of the publicly traded variety, feel the heat from company owners — and investors — to keep the earnings gravy train going...
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.”
MorVest Capital recently closed out its auction of $528 million of Fannie Mae MSRs. Without providing too much in the way of detail, MorVest CEO David Fleig told IMFnews the bids were “very strong.”
Flagstar's gain-on-sale margin fell to 135 basis points compared to 184 bps in 1Q21. The company also reduced the asset value of its mortgage servicing portfolio...
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