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Inside Mortgage Finance

February 9, 2023

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Conventional Market Takes Biggest Hit in 4Q22 Stumble

Government lending accounted for a rising share of first-lien originations in 2022 largely by taking in higher-risk loans. The steepest decline in the fourth quarter was in conventional-conforming production. (Includes two data charts.) Read More

Selling Servicing Rights: Wells Fargo and Home Point?

The MSR sales market is starting to firm up a bit — and just in time. A handful of large packages are available, including two from Wells Fargo and one from a large nonbank. But will these deals get done? Read More

Permanent Buydowns Lose Some Steam as Interest Rates Decline

Borrower use of buydowns spiked as interest rates increased in 2022, but “permanent” buydown activity has diminished somewhat this year. Read More

Rocket Fires Salvo in Fight Over Brokers With UWM

Rocket Pro TPO is offering to compensate brokers trying to break free from market leader United Wholesale Mortgage, whose contracts prevent independents from doing business with two rival table-funders. Read More

As loanDepot’s Fortunes Fade, Hsieh Out as Exec Chair

In a surprise move, loanDepot Executive Chair Anthony Hsieh has stepped down, though he remains as chairman. What’s clear: The LD founder is not a happy camper, as insiders sell stock and the firm’s fortunes fade. Read More

More Criticism Leveled at DTI-Based LLPA

The industry believes a DTI-based LLPA will create quality-control issues for lenders and raise prices for minority and first-time homebuyers. Read More

Townstone Verdict May Prevent CFPB from Filing ECOA Claims

Ruling in a redlining case filed by the CFPB against a nonbank mortgage lender, a district court judge said Equal Credit Opportunity Act prohibitions do not extend to prospective applicants. Read More

McHenry Plots New Path for House Financial Services Committee

Patrick McHenry, R-NC, new chair of the House Financial Services Committee, is viewed as a consensus-maker. But will his politics make it difficult to find common ground with the White House and Senate? Read More

Servicing Reforms Needed to Help Reverse Mortgage Borrowers

The National Consumer Law Center has called for flexibility in FHA’s property charge loss-mitigation policies, among other changes. Read More

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