Economists at Fannie increased their projections for originations, citing "our more optimistic home price growth expectation and somewhat lower mortgage rate path, along with an upgraded expectation for home sales."
The nonbank share of GSE servicing hit 57.8% as of the end of March, up from a 57.0% share at the end of 2023. Two of the largest banks reduced their GSE servicing during the first quarter. (Includes two data tables.)
Flexible nonbanks weathering the storm; layoffs continue at mortgage companies; tepid demand for mortgages on new homes; best execution analysis; Rocket preps AI offering; Equifax boosts mortgage-related revenue.
Freddie Mac is seeking approval to acquire second liens. The Structured Finance Association opposes the proposal, noting that non-agency outlets are providing sufficient liquidity for seconds.