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Inside Mortgage Finance

June 2, 2022

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Originations Market Leaning Closer to Purchase Loans in 1Q22

Refinance lending plummeted in the first quarter of 2022 but still clung to a narrow lead over purchase-mortgage originations. Refis may account for only 30% of the market for the rest of the year. (Includes four data charts.) Read More

Lenders Banking on Purchase Loans Face Supply Issues

Data from multiple listing services show that the housing inventory shortage is acute, with closed and pending home sales outpacing new listings. Read More

A Slight Lull in MSR Auctions, Prices Ebb

Servicing bids are off their highs for the year, but the situation could be temporary. As originations wane in the quarters ahead, nonbanks could flood the market with more auctions. Read More

Nonbanks Lean on MSRs to Prop Up Mortgage Originations

According to new research paper, nonbanks use their MSRs to help fund operations in a rising rate environment, resulting in stronger originations in comparison to banks. Read More

FHFA Adds Disclosure Requirements to ERCF

Starting next year, investors and other industry stakeholders will have a more granular view of the capital status of Fannie and Freddie. Read More

Updated Interagency Guidance on Flood Insurance Policy

The manual describes when flood insurance is mandated and when exemptions are allowed, among other issues. Read More

Older Mortgage Applicants Face Higher Denial Rates

In addition to higher rejection rates, older mortgage applicants also face higher interest rate spreads, according to new research from a Fed economist. Read More

Grapevine: Originating at a Loss? / The Reality of Stock Buybacks

How do you know when a mortgage cycle has reached its nadir? When originators produce loans at a loss. We’re not there yet but we could be close. Meanwhile, just because a lender announces a stock buyback that doesn’t mean it will happen. Read More

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