Market indicators suggest the Federal Reserve could cut rates three times this year while the MBA anticipates only one rate cut. A REIT that invests in agency MBS and servicing is shunning MSR for the moment.

The chief innovation officer at United Wholesale Mortgage testified at a hearing in Congress this week on housing affordability. Senators at the hearing largely focused on issues outside of the mortgage market.

Nominations for leaders at CFPB, FHFA waiting for full Senate vote; loanDepot CEO Frank Martell to step down; newer digital lender receives investment from Progressive Insurance.

PennyMac has marketed an average of one non-agency MBS with GSE-eligible mortgages for investment properties per month since November.

“Much of that is seasonality,” said David Spector, chairman and CEO of PennyMac Financial Services.

The freeze was extended to allow a U.S. district court judge to rule on a legal challenge to planned layoffs at the CFPB.

loanDepot’s gain-on-sale margin dropped from 3.33% in the third quarter to 2.60% in the fourth quarter.

Demand for both purchase mortgages and refinances increased last week.

The online lender focuses on purchase mortgages.

“We continue to see nearly zero [non-QM] loans hit the liquidation stage,” dv01 said.