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Inside Mortgage Finance

June 9, 2022

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Jumbo Originations Down in 1Q22, Agencies Take a Big Hit

The non-agency jumbo market held up better than high-balance agency production in the first quarter. New GSE pricing is depressing conforming-jumbo sales in the second quarter. (Includes three data charts.) Read More

Wells Trims Footprint, Cites GSE Mortgages as a Concern

Wells Fargo is in the process of changing where residential loans fit into the bank’s overall business. The company’s CEO cited GSE mortgages as a product that presents risk to the bank. Read More

A Buyer’s Market for Mortgage Companies

As loan volumes head south, more potential buyers are slated to come out of the woodwork, but don’t expect any premiums to be paid. We found at least two mid-sized shops that are in the hunt for deals. Read More

A Rare Slowdown in the Outsourcing of Servicing

For years, the number of subservicing contracts has proliferated. But with loan production falling, there is less of a rush to use outsourcing vendors. Some lenders may even move the function inhouse. (Includes data chart.) Read More

FHFA Reveals GSEs’ Equitable Housing Finance Plans

Fannie Mae and Freddie Mac are leaning on special purpose credit programs to offer better access to housing finance for Black and Latino borrowers. Read More

UWM Settles Overtime Pay Lawsuit to Focus on Business

The reason, United Wholesale Mortgage told employees, was to avoid legal bills and long-drawn court proceedings. Read More

Freddie Pushes Lending for Manufactured Homes

Freddie researchers find extensive overlap between manufactured home-friendly localities and mortgage-ready residents. Read More

Grapevine: Yet More MSR Sales / Better.com in Hot Water Again

After a respite of sorts, the insatiable appetite for mortgage servicing rights revives. Meanwhile, Better.com and its founder find themselves on the wrong end of a civil damages claim. Read More

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