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Inside Mortgage Finance

February 16, 2023

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FHA Gains Share in Down 4Q22 Market for Primary MI

Despite a downward spiral in new business and losing share to FHA, private MIs continued to report support strong earnings in the fourth quarter. Delinquency trends are edging up. (Includes three data charts.) Read More

Rocket in Search of CEO as Farner Announces Retirement

Following Jay Farner’s surprise move to retire, the mortgage company has retained a “leading firm” to consider both internal and external candidates for the CEO position. Read More

Fannie Profits Decline by $1B in Fourth Quarter

Loss provisions and declining volumes spell lower profits going forward. However, Fannie’s capital requirements remain elevated. Read More

Supply of MSRs for Sale Expected to Remain Elevated

MSR sales hit a record in 2022 and even more sales are expected both this year and in 2024. The jump in supply is presenting investors with attractive opportunities. Read More

Strauss’ Mortgage Background Comes Back to Haunt Him

The license for the new mortgage lending company of Michael Strauss, the former president of now-shuttered Sprout Mortgage, has been suspended by the Illinois Department of Financial and Professional Regulation. Read More

Housing Outlook to Improve in 2023, Says Harvard Expert

Potential homebuyers may be adapting to higher interest rates and could gravitate back to the housing market as rates have fallen recently, according to Harvard Joint Center for Housing Studies’ Chris Herbert. Read More

Ohio Environmental Mishap Poses Housing Questions

Mortgage servicers and housing officials should be prepared for an uptick in delinquencies following the toxic train derailment in East Palestine, OH. Read More

Grapevine: Select Portfolio Servicing Update; 203(k) Revisions?

Apollo isn’t buying Select Portfolio Servicing from Credit Suisse; FHA seeking suggestions for changes to rehabilitation program; Hsieh’s fishing dream; mortgage fraudster sentenced to 10 years in prison. Read More

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