“Companies with stronger franchises and ample levels of capital continue to sacrifice some profitability to increase market share, keeping pressure on weaker competitors,” according to Moody’s Ratings.

UWM's debt offering priced with an interest rate of 6.625%.

Growth in securitizations of home equity loans slowed in the third quarter from an exponential pace earlier in the year. Still, issuance was up, with Rocket leading the way. (Includes two data tables.)

An affiliate of Proprietary Capital won some significant rulings this week in a lawsuit against Mr. Cooper. The dispute involved early buyouts from Ginnie Mae MBS.

ABS receive no-action relief on Rule 15c2-11 reporting; Ellington Management Group to securitize closed-end second liens.

Originations through the retail channel increased during the third quarter of 2024, but correspondent and broker production grew at a faster pace. The retail share of total first-lien originations declined to 50.8%. (Includes six data tables.)

The increase in the 10-year Treasury rate following the November election and changes in expectations for interest rates have prompted economists to revise down their projections for originations in 2025.

Rocket sees conflicts in government policies for appraiser independence.

The pricing incentive is available to mortgage brokers for mortgages with credit scores of 720 and above.

Joshua Rosner, managing director at Graham Fisher, a consulting firm, suggested that calls for an explicit government guarantee for GSE MBS are absurd.