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Inside Mortgage Finance

January 26, 2023

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Mortgage Lending Still in Collapse Mode at 2022 Finish Line

Primary-market originations of first-lien home loans fell to $335 billion in the final three months of last year — the lowest output since the second quarter of 2014. All major lenders saw volume decline. (Includes two data charts.) Read More

Good Times for MSR Holders Could be Coming to an End

Bids for MSRs are declining, prompting worries among some sellers. Those holding servicing also face the possibility of an increase in delinquencies and advancing responsibilities. Read More

The MSR ‘Markup’ Gravy Train Is Over. Now What?

The halcyon days of sizeable MSR markups are in the rearview mirror, causing servicing owners to ponder their options. Some nonbanks continue to actively sell servicing rights while others are being told by their advisors to hold their cards. Read More

Lenders Looking Forward to Better Times This Year

On a quarterly basis, originations will bottom out in the first quarter, according to projections by the Mortgage Bankers Association. Still, it will take a little longer for profitability to improve. Read More

Signs of Mortgage Industry Reaching a Bottom?

The debt prices of select nonbank lenders have improved in recent weeks, but remain in the speculative bucket. As spring approaches, originators and their investors are hoping for the best. What else can they do? Read More

Industry Equivocal About Changes to GSE Pricing

Upfront fees will decline for most low-income borrowers, but will increase for some middle-income homebuyers. The result is more cross-subsidy for the GSEs’ mission-based activities. Read More

Appraisal Subcommittee Holds Open Hearing on Bias

The first-ever open hearing of the Appraisal Subcommittee saw calls for structural reforms to the industry, changes to methodology and increased disclosures to consumers regarding reconsideration of value. Read More

Class Action for Former First Guaranty Employees

A federal bankruptcy judge in Delaware has allowed a WARN Act lawsuit involving 435 former First Guaranty Mortgage Corp. employees to proceed as a class action. Read More

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