About 9.5% of the loans in the MBS were subject to an underwriting defect or documentation deficiencies, primarily due to borrower misrepresentations resulting in a miscalculated debt-to-income ratio.

Interest rates on mortgages have risen from 5.98% in late February to 7.03% this week.

A working group at the National Association of Insurance Commissioners proposed harsh treatment of multi-collateral structured credit investments at insurance companies.

Rocket’s acquisition of Mr. Cooper and Pennymac’s pending acquisition of Cenlar have prompted some changes in market share. M&T Bank posted a sharp increase in subservicing in the second quarter. (Includes data table.)

Lawrence Yun, chief economist of the National Association of Realtors, pegs 7% interest rate as “the new normal.”

A stronger than anticipated report on manufacturing Wednesday convinced a growing share of players in the financial markets that the Federal Reserve will have to hike the federal funds rate again in the coming months.

The GSEs’ share of servicing topped out at 50.4% in March 2022 and has declined each quarter since then. (Includes two data tables.)

Freddie Mac’s MBS purchases spiked in February and have been relatively limited since then, compared with actions by Fannie Mae.

Through the end of the year, brokers can receive no-cost processing on three Underwriting+ loans.

Fannie Mae pushed back a deadline for changes to how the government-sponsored enterprise handles rental income for mortgage borrowers to Dec. 1.