“Mortgage rates continued to move higher, driven by increasing Treasury yields as the conflict in the Middle East kept oil prices elevated, along with the risk of a broader inflationary shock,” said Joel Kan, a vice president and deputy chief economist at the MBA.
The National Consumer Law Center predicted that implementing the mortgage-focused order will “re-ignite the market conditions” that led to the financial crisis of 2008.
Seneca owned mortgage servicing rights with an unpaid principal balance of $42.31 billion as of the end of December, according to estimates by Inside Mortgage Finance.