Interplay between debt ceiling and mortgage interest rates; mortgage employment declines; rate locks down; Rithm considers spin-off; Planet Financial looking for lenders; new LO recruiting software; Blend’s market share grows; Black Knight’s margins; new appraisal marketplace; MISMO requests for comment.

The nonbank is in the process of closing, selling both its originations and servicing.

About a quarter of homeowners look likely to draw on their equity in the next 12 months...

With the U.S. debt ceiling resolution far from certain, investors in agency MBS are being careful in terms of financing and leverage. A U.S. default also has ramifications for outstanding MBS and ABS.

The pipeline for commercial MBS issuance is starting to fill up after a slowdown tied to volatility from the regional bank failures. Longer term, higher interest rates are a concern for loans in outstanding CMBS.

Former Federal Reserve official joins SFA; delinquencies rising on credit card and student loan ABS; KBRA creates new business development role for structured finance.

Banks are reducing their appetite for new mortgage originations, particularly among non-agency products. Nonbanks see an opportunity to take some market share.

Instead of adding to their MBS portfolios in 2023, banks are now expected to be net sellers.

The mortgage industry fallout if Congress and the White House fail to raise the debt ceiling: Zillow predicts 8.40% interest rates on 30Y FRMs.

Margins jumped but MSR markdowns overwhelmed UWM's income in the first quarter.