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Inside Mortgage Finance

February 24, 2022

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Refi Boosts FHA Share in 2021, Purchase Aids PMIs

Mortgage originations with primary MI coverage declined 11.6% from the third to the fourth quarter of 2021. On a year-to-date basis, FHA did better than VA and the private MIs. (Includes three data charts.) Read More

MSR Market in Danger of Getting Too Frothy? Nah…

Bidders continue to sidle up to the MSR auction bar as interest rates move higher. Are premium prices beginning to waiver? We’re not there yet but sometimes the market can turn on a dime. Read More

Home Point Posts Weak 4Q Earnings, Sells Stake in Reverse Unit

If it weren’t for MSR sales, Home Point would have lost money in the fourth quarter. The nonbank continues to scale back its breadth, announcing a deal to sell its stake in reverse lender Longbridge Financial. Read More

Federal Appeals Court Tosses Most GSE Shareholder Cases

The federal appeals court has dismissed all claims in Fairholme Funds and seven other shareholder lawsuits against the U.S. government. Read More

MBA Backs OCC’s Proposal on Climate Risk Oversight

In comments due last week, the Mortgage Bankers Association and the American Bankers Association weighed in on draft principles on climate-related financial risk management from the Office of the Comptroller of the Currency. Read More

DOJ Says Fair Housing Act Covers Appraisal Bias

In a statement of interest, the Department of Justice said the court should hold that the Fair Housing Act applies to discriminatory appraisal practices. Read More

Ocwen Settles Allegations It Recorded Calls to Consumers

The servicer will pay $1.5 million to settle a class action alleging it recorded phone conversations with mortgagors without their consent. Read More

Grapevine: Parachute Time? / Eye on Interest Rates

Okay, so the first eight weeks of the year have been tough on originators. However, it looks as though Russia’s invasion of Ukraine could cause the Federal Reserve to move slowly on interest rates. Read More

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