Proceeds from the recent issuance have largely gone toward paying down the companies’ debt issuance from 2021 when they needed funds for their refi business.
Although almost all of the cost of funding a loan through MBS is passed through to consumers, borrowers only see about 40% of the “cost” of a specified pool pay-up.
Lenders cut more staff; rate locks up 14% in January; borrowers have plenty of equity; bill to limit trigger leads in House; LoanCare revamps servicing website; Staircase launches ChatMTG.
Loans delivered to Fannie Mae and Freddie Mac in the fourth quarter of 2023 move towards lower LTV ratios and higher FICO scores as volume plummets. (Includes two data tables.)
The volume of loans declined in all mortgage insurance categories on both the purchase-mortgage and refinance sides of the agency market in 2023. Meanwhile, FHA gained market share. (Includes two data tables.)
U.S. Mortgage Insurers warned federal banking regulators against unintended consequences to the housing market if they finalize changes to capital requirements for large banks without fixes.
Below contract appraisals in majority Black census tracts are much less likely to receive time adjustments than those in majority white tracts, according to new research from FHFA.