Profitability outlook; Fitch downgrades Home Point’s corporate ratings; UWM aims to limit trigger leads; New American Funding looking for joint ventures; new initiatives at MISMO.

PennyMac's originations were essentially level in the first quarter, helping the lender become the largest producer in the industry.

More originations, an improvement on margins and an increase in income from servicing at NYCB.

There are some benefits to selling jumbos into the secondary market rather than holding the loans in portfolio.

Another subprime auto ABS issuer closed its dealerships last week. Back-up servicers can help to protect investors from failing issuers, though there were some complications with a recent servicing transfer.

Removals from Ginnie MBS were few and far between in the first quarter of 2023 as elevated interest rates limited loan payoffs and other withdrawal activity. (Includes data chart.)

AGNC CEO is comfortable with FDIC’s plans for sales of MBS held by failed banks; Morgan Stanley revives jumbo MBS; UBS prepares for legacy residential MBS action by DOJ; Chase offers RPLs in non-agency MBS.

The CFPB issued an advisory opinion to limit foreclosures on “zombie” second mortgages, noting that many would be past the statute of limitations.

CFPB raises concerns about algorithms in the mortgage industry; share of borrowers buying points increased in 2022; recession coming, though home prices won’t go down as much as initially expected.

While the first quarter didn't go much better than the fourth quarter, officials at the REIT suggest better times are ahead.