With refi business expected to decline later this year, a number of shops are rethinking their hiring plans. Lenders are set to face margin compression, excess capacity and consolidation.
For the week ending March 30, the relief count dropped by 33,000 units. Key point: Forbearance starts fell to their lowest weekly volume (30,000) since the beginning of the pandemic…
Bottom line: A committee within the CSBS determined that "regulatory prudential standards enforceable by state regulators are warranted and advisable at this time.”
As recently as November, Impac Chairman and CEO George Mangiaracina said returns on loans eligible for sale to the government-sponsored enterprises were better than returns from non-QMs. However, this spring he indicated that market dynamics had changed.