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Inside Mortgage Finance

March 16, 2023

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Bank Failures Send Shock Waves Through Mortgage Market

The failures of Silicon Valley Bank and Signature Bank have put much of the banking system on shaky ground. Lenders with similar balance sheets that are more heavily involved in the mortgage market are under scrutiny. Read More

Nonbanks Seek Higher Ground, Move Deposits Around

With a bank liquidity crisis taking seed, some nonbank CEOs started asking a basic question: Are our escrows safe? What about our corporate deposits? Needless to say, it’s been an interesting week. Read More

Mortgage Servicing Market Leans More to Whole Loans

The supply of Fannie/Freddie servicing stagnated and non-agency MBS lost momentum in the fourth quarter. But depository whole-loan portfolios are growing, as are the home-equity and government-insured markets. (Includes two data charts.) Read More

FHLBanks Get a Front-Seat View of the Banking Crisis

Some banks hike their use of FHLBank advances when a run on their deposits and the inability to sell their MBS holdings cut into liquidity. This strategy doesn’t seem to work for all banks. Read More

A Hiccup in Servicing Sales Expected

Rates are headed lower, at least for now, causing sellers of MSRs to pause. However, “whole” company deals could pick up a head of steam. One hungry buyer: Guild Mortgage of San Diego. Read More

Legislation May Make MIP Tax Deduction Permanent

The bipartisan Middle-Class Mortgage Insurance Premium Act was reintroduced in the House last week by Reps. Vern Buchanan, R-FL, and Jimmy Panetta, D-CA. Read More

FTC Sues to Block ICE-Black Knight Deal

The move signals an aggressive effort by federal regulators to rein in consolidation in the mortgage tech industry. ICE said it is prepared to fight the FTC over the Black Knight deal. Read More

Grapevine: FRB Avoids the Net / FHFA Delays DTI Fee Charges

The bank liquidity crisis that started with Silvergate claimed the lives of three depositories but stopped at the door of the San Francisco-based FRB. More revelations might lie ahead. Meanwhile, the Federal Housing Finance Agency delayed its DTI fees. Read More

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