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Inside Mortgage Finance

August 4, 2022

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Mortgage Servicing Market Slightly Less Top-Heavy

The top five servicers saw almost no growth in their combined owned servicing during the second quarter. But a number of companies in lower tiers posted big gains. (Includes three data charts.) Read More

GSEs’ 2022 Earnings Are Likely to Continue to Drop

Falling origination volumes and a return to loan-loss provisions point to lower net income for Fannie Mae and Freddie Mac through the end of the year. Read More

Lenders Getting Innovative as Refi Business Dwindles

With limited demand for refinancing, lenders are peddling other products. While nonbanks are offering home-equity loans, some lenders are selling mortgages with a reduced-fee refi option down the road. Read More

Economists See Mortgage Interest Rates Stabilizing

Lenders have already priced in a recession, economists said, forecasting mortgage rates to keep moving sideways, despite the recent interest rate hike by the Federal Reserve. Read More

Annaly Gobbling Up MSRs with Plans for Further Growth

The REIT’s investments in MSRs increased by 20.2% in the second quarter, based on unpaid principal balance, to $109.0 billion as of the end of June. Annaly sees the assets as a nice hedge to its traditional investments in agency MBS. Read More

Senate’s IRA Bears Little Resemblance to BBB

With prospects for the Build Back Better Act doomed, Senate leadership has proposed a new version of the budget reconciliation legislation under the moniker the Inflation Reduction Act. Read More

GSEs Hear Concerns About Manufactured Home Programs

Agencies and regulators are seeking stakeholder input on how to improve lending and securitization in the manufactured home space. Read More

Grapevine: Quantifying the Downsizing; Margins Improving

When a company right-sizes operations, how many employees lose their job?; margins improve in the second quarter; applications for refis increase. Read More

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