MCT and Freddie Mac experts discussed the strategies of managing MSR assets. While some firms are interested in the best financial deal they can get, others are focused on retaining clients.

Home prices depreciated in July; foreclosure starts near pre-pandemic levels in August; mortgage rate locks continued downward trend in August; applications for mortgages on second homes fall to pre-pandemic levels; Experian allowing renters to boost their credit scores.

Many publicly traded mortgage companies remained profitable in the second quarter, though earnings were down sharply. (Includes data chart.)

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.