“The CFPB’s blog post is baffling and reveals little understanding of how the mortgage market works or awareness of its own regulations that provide for full fee transparency and limits on what can be charged,” said Bob Broeksmit, president and CEO of the MBA.
In recent months, when interest rates have declined even slightly, loan applications have jumped, indicating that potential borrowers are keeping a close eye on interest rates. There could also be some relief on affordability as the inventory of homes for sale increased in February.
Cyberattack will cost loanDepot at least $12 million; average borrower has nearly $300,000 in home equity; home prices overvalued across the country; MSR gain some value; new servicing platform from Sagent; MCT offers TBA pricing indicators; lender launches real estate platform.
Regulators are pushing higher capital requirements on banks and looking favorably at credit-risk transfer transactions, helping to increase CRT issuance. Investor demand for bank CRT is also outstripping supply.
Banks, the largest holders of agency MBS among investor groups, aren’t expected to be big buyers this year. Money managers helped to fill the void left by banks last year, but that might not continue into 2024.
Great Ajax received a loan from Rithm Capital and moved to have Rithm serve as external manager of the REIT. Rithm plans to have Great Ajax invest in commercial mortgages.