Some $920.73 billion of mortgages originated during 2021 were sold to unaffiliated non-agency buyers during the year, a 19.6% increase compared with 2020. Guaranteed Rate was the top correspondent seller. (Includes data chart.)
Purchase-mortgage lending expected to increase; tips on remaining profitable amid rising interest rates; Texas Capital Bank slashes projections for warehouse lending; mixed trends for closing costs; Optimal Blue offers benchmark pricing tool for third-party originations; Comcast venture group invests in Neat Capital; MISMO’s e-Eligibility Exchange.
S&P has proposed revisions to its criteria for judging the adequacy of risk-based capital when assessing insurers. The revision would prompt higher capital requirements for certain MBS and ABS held by insurers.
All of the participants in the Fed’s TALF program set up in the early days of the pandemic were so-called opportunistic investors that hadn’t previously been buying AAA-rated deals.
Previously, Texas Capital executives estimated the bank's mortgage finance volume would decline at a rate in the “high teens” this year, but now they're projecting a “mid-30%” decline.
Receiving borrower tax transcripts from the IRS, which usually takes 48 hours, is stretching on for weeks since the start of the tax filing season, according to lenders.