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Inside Mortgage Finance

May 12, 2022

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Purchase Market Props Up Primary MI Volume in 1Q22

New primary MI coverage on refinance loans fell sharply in the first quarter. Purchase MI business saw a somewhat softer landing as the mortgage market nosedived. (Includes three data charts.) Read More

Nonbanks Utilize MSRs to Stabilize Income

Sharply higher interest rates clobbered origination income in the first quarter of 2022, but there was a silver lining to this dark cloud: higher MSR valuations. (Includes data chart.) Read More

Sources: USAA Unloads MSR Portfolio to Mr. Cooper

It’s been a difficult couple of years for USAA, losing money and getting sanctioned by regulators. The latest development: The bank is selling the ownership rights to its MSRs. Read More

Delinquencies Fall Back to Pre-Pandemic Levels in First Quarter

Delinquencies, after spiking at the start of the pandemic, are back at manageable levels. Serious delinquency rates are still elevated, though. (Includes data chart.) Read More

Feds Ask Servicers to Pause Foreclosure of HAF Applicants

Federal agencies want servicers of government-backed mortgages to pause foreclosure proceedings when the homeowner’s application for relief under the Homeowner Assistance Fund is pending. Read More

GSE Multifamily Profits Decline in 1Q22

Falling revenues and a decline in loss reserves at Fannie and Freddie signal the end of the housing boom and a return to revenue normalcy. Read More

At First Glance, Industry Favors Proposed CRA Update

The revisions are an attempt to make the CRA rule more transparent and reflective of changes in banking. Read More

Fannie Mae Scotches Use of Cryptocurrencies

Both government-sponsored enterprises have now formally banned the use of virtual currencies for conventional mortgages. Read More

Costco Exits Mortgage Arena

The big-box retailer no longer offers its store members mortgage pricing options or provides lenders mortgage leads. Read More

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