Maybe it's all overblown...

The one truism about mortgage banking that everyone knows: It’s a highly cyclical business that lives and dies on two central factors, interest rates and employment.

But can MBA and other outraged trade groups do anything to stop this new LLPA? “We hope to rescind it,” said MBA's Bob Broeksmit...

In a surprise move late Wednesday, the GSEs installed a new 50-basis-point LLPA on most refis. Needless to say, lenders feel betrayed.

Pulling the strings behind the non-QM curtain: A giant named PIMCO...

Thanks to the economic carnage caused by the pandemic, interest rates continue to drift lower, with some originators offering 30-year FRMs at under 3.0% and 15-year mortgages below 2.0%.