“The new year has all of us in the MSR market off to a running start as we see increases in mortgage rates and lower originations leading to greater demand, allowing for improved pricing of the MSR asset,” said Tom Piercy, managing director of Incenter Mortgage Advisors, Denver.
Movement locked rates on $1.1 billion of mortgages in January, an 11 percent increase from the same month a year ago. It called the improvement an "indicator of future growth in February and March.”
All totaled, the new tax law will result in Treasury – which owns the senior preferred stock of the GSEs – forking over $4.01 billion to aid Fannie and Freddie...