HUD's Fudge: "We continue to monitor mortgage performance trends within our portfolio, particularly related to those homeowners who are struggling financially because of the pandemic.”
Meanwhile, industry consultant Christopher Whalen noted, “What a difference a year makes. Twelve months ago, some of the industry’s largest independent mortgage banks were in danger of tipping over due to the liquidity wave unleashed by the FOMC in response to COVID."
Thanks to rising rates, mortgage stocks have been under pressure of late but most of the declines have affected lenders that recently went public as opposed to “older” firms such as Mr. Cooper and PennyMac Financial Services.
Have you noticed of late that regulators haven’t voiced their concerns about the financial health of nonbanks? Perhaps they’ve seen the stellar 2020 results...