The five largest banks in terms of servicing for others all reduced their portfolios in the first quarter.

An estimated $59.0 billion of refis were originated in the first three months of the new year, a 31.1% increase from the previous quarter.

Bob Broeksmit, president and CEO of the MBA, said that if the Supreme Court had invalidated the CFPB's rules, there would have been a severe impact on the housing market.

There's a new no-downpayment purchase mortgage product and title insurance services.

Marcia Fudge is now a partner and chair of public policy at Taft, a law firm.

The volume of mortgages banks service for other entities declined by 2.0% during the first quarter of 2024. Regions Bank was the only depository among the top 10 to increase its servicing. (Includes data table.)

HUD issues guidance on mortgage advertising; UWM expands title services for brokers; Freedom issues debt; Incenter offers review services for taxes and insurance; most housing inventory in Florida, Texas.

Investors can’t seem to get enough non-agency MBS. Issuance is booming and demand is expected to remain elevated thanks to the outlook for interest rates, among other factors.

Money managers added to their holdings of agency MBS for the sixth consecutive quarter as of the first quarter of 2024. That might be the peak in their investments in agency MBS, according to industry analysts.

A decline in interest rates near the end of 2023 drove up refi volume. Meanwhile, purchase-mortgage lending declined slightly on a sequential basis as seasonal factors limited demand. (Includes four data tables.)