Cyberattack will cost loanDepot at least $12 million; average borrower has nearly $300,000 in home equity; home prices overvalued across the country; MSR gain some value; new servicing platform from Sagent; MCT offers TBA pricing indicators; lender launches real estate platform.

President Biden proposed a tax credit of $400 a month to put toward a mortgage.

Regulators are pushing higher capital requirements on banks and looking favorably at credit-risk transfer transactions, helping to increase CRT issuance. Investor demand for bank CRT is also outstripping supply.

Banks, the largest holders of agency MBS among investor groups, aren’t expected to be big buyers this year. Money managers helped to fill the void left by banks last year, but that might not continue into 2024.

Great Ajax received a loan from Rithm Capital and moved to have Rithm serve as external manager of the REIT. Rithm plans to have Great Ajax invest in commercial mortgages.

As long as struggling mortgage companies show that they’re on the path to profitability, warehouse lenders say they have their back.

The equity investment is led by Liberty Strategic Capital, a firm headed by former Treasury Secretary Steven Mnuchin.

Federal Reserve Chairman Jerome Powell said major revisions to the proposed capital requirements for large banks are likely.

New York Community Bancorp has its third CEO in less than two weeks.

The appropriations bill includes $54 million in funding for Ginnie for fiscal year 2024 compared with $40 million in funding for FY 2023.