In the secondary market, issuers have had to deal with diminished demand for mortgage products originated prior to the recent runup in interest rates. Is the worst behind the sector?
Fannie’s CEO is set to retire. The GSE chair is departing as well; Waterfall Asset Management launches non-agency MBS with Ginnie EBOs; hurricanes impacting performance of solar ABS.
While states offered broad temporary flexibilities regarding LO licensing and location requirements during the pandemic, the transition out of the temporary standards has been bumpy.
So far, among public companies, Mr. Cooper CEO Jay Bray was the top mortgage earner in 2021 but many lenders have yet to file proxy statements. Meanwhile, MBA trimmed its production forecast.