Rising interest rates increased the fair value of banks’ MSRs in the second quarter but servicing for others was essentially flat. (Includes data chart.)

Before the pandemic, lenders sold their MSR 80% of the time but after COVID, they retained 70% of their MSRs. Now, the split is 55/45.

Reali to close and hopes to sell its mortgage origination business; Sun West Mortgage launches cash-offer product with NFT component; delinquencies increase in July; Blend offers home-equity lending product; Fitch confident home prices won’t crash like in 2008; Staircase offers new origination tech.

It’s been a bit quiet on the mortgage company M&A front the past few months, but a few deals are getting done, including Two Harbors agreeing to buy RoundPoint Mortgage.

loanDepot cites faults in wholesale channel; rate locks decline in July; foreclosure activity also down; MISMO seeking comments on various initiatives.

Most of the big players in bulk agency MSR transfers were nonbanks, although Chase still ranked as the top buyer at midyear. Co-issuance volume declined as agency MBS issuance waned. (Includes three data charts.)

Mortgage originations down at big banks in second quarter; Better does worse in first quarter; loanDepot downsizing; foreclosure activity ramping up; MISMO remains busy.

A Fed economist outlines why the COVID-19-related economic crisis turned out so differently from the 2008 global financial crisis.

Mortgage market starting to return to normal (whatever that means.)

The rapid increase in interest rates seen in the first quarter took a big bite out of income from production and helped to goose servicing earnings. And while a downturn in originations was expected this year, it could be worse than expected.