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Inside Mortgage Finance

January 12, 2023

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Ginnie Paces Agency MSR Growth, Nonbanks Stall

Despite a sharp decline in primary market originations, the agency MSR market continued to grow in the fourth quarter. Ginnie servicing was the fastest-growing segment. (Includes two data charts.) Read More

Wells to Sharply Reduce its Mortgage Operation, Drop Correspondent

The correspondent channel accounted for 40% of Wells’ originations in 2022, and the bank ranked third among all lenders in the channel. Still, some see Wells’ move as a positive step for the mortgage industry. Read More

Non-QM Banker Bolts Warehouse, is Committed to Crypto

It’s been an ugly couple of months for crypto financier Silvergate Bank, an FDIC-insured institution. One casualty: its non-QM warehouse finance business. Read More

Mortgage Layoffs: Who’ll Stop the Rain?

It’s a safe bet that further job cuts are in the cards for most mortgage franchises. But is the worst of the personnel bloodletting over? That’s hard to say. The optimists out there are hoping for a stronger second half. Read More

Mortgage Industry Should Brace for Upcoming Policy Changes

The Federal Housing Finance Agency, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau have a number of mortgage-related rulemakings in the works, according to their policy agendas. Read More

SCOTUS Refuses Appeal in Fairholme Funds et al.

With the high court declining Fannie Mae/Freddie Mac shareholders’ petition for a writ of certiorari, it’s hard to see what legal avenues are still open to these aggrieved investors. Read More

A New Fannie Study on What Drives Closing Costs

Although race and ethnicity play a role in the cost of a mortgage, geography, education and loan type may be more important. Read More

Grapevine: Up for Grabs (Maybe): $85B in MSRs / Homebuyer Sentiment Improves

Tongues were wagging late in the week concerning a possible $85 billion package of MSRs hitting the auction circuit. Some suggested it might turn out to be a privately negotiated deal with two buyers. Read More

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