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.

The ratio measuring the fair value of banks’ mortgage servicing rights compared with their servicing for others hit a post-2008 high as of the end of March thanks to the spike in interest rates.

Owning mortgage servicing rights proved to be a great counter-hedge to an ugly origination market in the first quarter. At least two nonbanks benefited: Mr. Cooper and New Residential Investment.

Bulk MSR transfers were down in the first quarter, with a number of pending deals yet to close. Coissuance saw a boost in its share of agency securitization. (Includes three data charts.)