Bank trade groups support an interim final rule that allows depositories to defer appraisals for up to 120 days in certain circumstances. Appraisers, on the other hand, have raised concerns.
Having hit a rocky patch during the pandemic, Impac Mortgage will be late in reporting first-quarter results and it’s selling most of its MSRs. What’s next?
Lenders and servicers alike are facing huge challenges due to the coronavirus, with many rising to the operational challenge. However, when it comes to MSR sales, the picture is bleak.
Credit unions tend to offer mortgages with lower interest rates than other lenders. However, their share of originations is relatively low and the gap between them and banks in terms of interest rates has narrowed.