Banks and thrifts saw another drop in mortgage banking income in the second quarter of 2022. Trends varied widely among banks, with some big players managing to improve earnings while others falter. (Includes one data chart.)

Home prices depreciated in July; foreclosure starts near pre-pandemic levels in August; mortgage rate locks continued downward trend in August; applications for mortgages on second homes fall to pre-pandemic levels; Experian allowing renters to boost their credit scores.

Loans in the deal have seasoned for an average of one month.

Regulatory changes in response to the financial crisis of 2008 appear to have incentivized big banks to increase their focus on jumbo mortgages, according to researchers at the Federal Reserve Bank of New York.

Investors that once focused on lower tranches of non-agency MBS are shifting up in credit, seeing just as strong returns from AAA-rated tranches with fewer risks. Investors in agency MBS are also changing strategies as interest rates rise.

In 2020, the SEC made a move to apply a disclosure rule that had been in effect for nearly 30 years to MBS and ABS. Industry participants have been able to delay enforcement of the rule while seeking changes to the disclosure requirements.

MBA urges FHFA to consider securitization when reviewing the Federal Home Loan Bank system; Ambac’s MBS lawsuit against Countrywide goes to trial 12 years later; MISMO seeks comments on template for BWIC activity.

Big banks boosted their appetite for jumbo mortgages in the past decade thanks to regulatory changes following the 2008 financial crisis, according to a new finding from the Federal Reserve Bank of New York.

Unlock and Saluda said the senior debt offering in the securitization was oversubscribed...

Fannie Mae is ready to unload almost $1 billion in NPLs...