Delinquencies were largely up across the board in the agency MBS market in the second quarter. Only 120-plus-day delinquencies declined compared to the end of March. (Includes data chart.)

Servicers have found new success leveraging self-service technologies for borrowers looking for disaster relief and forbearance options.

Bank portfolios of mortgage servicing for others contracted slightly during the first quarter. Also, the ratio measuring MSR fair value against the UPB serviced for others continued to drop after peaking in the third quarter of last year. (Includes data chart.)

Rocket, UWM offer low-downpayment products; CFPB finds sharp differences in loan pricing; servicing profits improve; timing for recession unclear; quantifying the refi boom; Freddie improves paystub analysis; Blend offers soft credit pulls; MISMO seeks comments on closing standards; Maxwell acquires capital markets provider; fractional homeownership.

The nonbank plans to use artificial intelligence in an effort to sharply reduce expenses from its call center operations.

Lakeview Loan Servicing dominated both the bulk and coissuance MSR transfer markets, accounting for nearly a third of first-quarter activity. (Includes three data charts.)

Total delinquencies declined in the first quarter led by the drop in early-stage defaults. However, the delinquency rate on loans 30-59 days past due still accounted for more than half of the total default rate. (Includes data chart.)

GSEs set to adopt new credit scores in late 2025; Rocket’s credit card; new president at MISMO.

Failed banks and interest rate risk; DOJ-Sterling Bank settlement; big banks boost First Republic; ICE to fight FTC over Black Knight deal; FHFA delays DTI fee; Guaranteed Rate offering fast approvals.

A mild recession is in the making for mid-2023 and the country is still woefully behind on housing supply, according to the MBA’s chief economist.