Peter Boomer, a former PNC Bank executive, joins Guaranteed Rate as executive vice president.

The great mortgage origination correction of 2023 hasn’t resulted in a whole lot of company franchises changing hands. But there’s been a ton of MSR sales and some branch networks finding new owners.

The Federal Trade Commission, Black Knight and Intercontinental Exchange have filed a joint stipulation for dismissal of FTC’s antitrust lawsuit.

Look for Wells Fargo to offer more of its holdings while other shops, bank and nonbank alike, contemplate their futures.

Although MSR sales are expected to slow with the arrival of summer, a few large bulk deals are in the works.

The tide is starting to turn in favor of servicing sales where higher note rates are involved. Don’t expect premium prices or a tsunami of deals, but at least it’s an outlet.

First the good news: Several shops are experiencing a strong second quarter, with production on the rise sequentially. Then again, the first quarter was notably weak. As for the rest of the year, executives are hopeful rates are about to peak.

The future of servicer/subservicer Select Portfolio Services remains cloudy after its owner turned down bids on some of its MSRs.

With production expenses rising to more than $13,000 per loan, and four straight quarters of negative net income, mortgage lenders struggle to find ways to stay in business.