As many as 88,000 individual tax identification number mortgages could be originated in a year if certain market barriers were removed, according to Urban Institute researchers.
Flagstar’s warehouse business was left unscathed by the recent loss at its parent, NYCB. However, it doesn’t take much to make a nonbank feel queasy when the unexpected happens at one of its financiers.
Facing criticisms that borrowers would intentionally default to qualify for VA’s upcoming loan-modification program, the agency noted that nearly 90% of its home loan portfolio is at a 2.5% to 3% coupon.
Private MIs reported another strong quarter in financial results even though their share of insured first-lien originations slid to its lowest point since 2020. (Includes four data tables.)
Buying 5% to 6% bulk MSRs in the secondary market might seem like a crazy idea given the prepayment risks involved. But the longer mortgage rates stay higher, the more it looks like a smart move.
The Homebuyers Privacy Protection Act has bipartisan support in the House. The bill, like its companion bill in the Senate, would amend the Fair Credit Reporting Act to prohibit the sale of consumers’ information without their approval.
Delinquencies increased in the fourth quarter as borrowers faced growing financial pressure. Still, some of the increase in delinquencies looks to be related to a quirk in the calendar. (Includes data tables.)
The Mortgage Bankers Association took Treasury Secretary Janet Yellen’s remarks as an opportunity to reiterate industry concerns about the Basel III endgame proposal.
San Diego-based Guild Mortgage said it’s buying origination assets from one of Utah’s largest lenders. Given the recent jump in interest rates, some believe the “roll-up” of shops is just getting started.