High interest rates are cutting into demand for mortgages; many consumers’ expectations for interest rates are wrong; ICE and Black Knight move close to merger; servicer using blockchain, lender guarantees underwriting results from AI; Flagstar’s mortgage tech accelerator; mortgage payoff fraud attempts increase.

Each mortgage originated in the second quarter of 2023 generated an average pre-tax net loss of $534, compared to a loss of $1,972 per loan in the first quarter, according to the MBA.

Industry economists project that interest rates on mortgages will peak during the third quarter...

The Obama-era task force set up to investigate MBS fraud that contributed to the 2008 crisis has finished its job. Its efforts led the DOJ to collect $36 billion in penalties from banks, originators and rating agencies.

The rating service will assess expected payments from private mortgage insurers, with implications for MI-linked note issuance and potentially non-agency MBS with loans that have private MI.

According to the Supreme Court, damages for violations of the Fair Housing Act can't extend beyond the first step of the improper activity.

Not all lenders are cutting staff...

Early-stage delinquencies increased at large servicers during the second quarter of 2023. Servicers anticipate further declines in loan performance. (Includes data chart.)

The strong economy looks like a mixed blessing for mortgage lenders.

The CFPB plans to issue a proposed rule expanding requirements for data brokers in 2024.