Lenders are at the mercy of United Wholesale Mortgage’s pricing decisions, according to UWM’s president and CEO; Finance of America is seeing better returns from reverse mortgage lending than from traditional mortgages; the IRS released guidance on the Homeowner Assistance Fund.
Ocwen, which had plans to ramp up its clean-up calls of non-agency MBS, put the activity on hold following a pricing issue with Deutsche Bank, a trustee for the MBS.
S&P recently downgraded its view of home prices at the national level to overvalued from undervalued. How rating services view home prices plays a role in credit enhancement levels for non-agency MBS.
Early-stage delinquencies jumped in the third quarter, prompting a quarterly increase in the total past-due rate. Many borrowers that have been in forbearance for 18 months are also reaching the end of their payment holidays. (Includes data chart.)