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Inside Mortgage Finance

May 18, 2023

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Jumbo Clobbered in 1Q23, FHA/VA Relatively Solid

Conventional-conforming mortgages remain the biggest sector in the originations market, and production was down 12.7% in the first quarter. Meanwhile, ECM lending is getting more attention. (Includes two data charts.) Read More

First Quarter Not a Pretty Time for Warehouse Lenders

It was a tough quarter for warehouse lending, but that was to be expected, given the state of interest rates and primary market production. The good news? Plenty of credit is available. (Includes data chart.) Read More

FHFA Issues RFI on Policies That Impact GSE Pricing

FHFA is seeking input on the GSEs’ capital framework, which has major ramifications for pricing policies. According to the FHFA, Fannie and Freddie aren’t generating sufficient returns from their single-family business. Read More

Delinquencies Fall to Record Low in First Quarter

The reading for the total delinquency rate at the end of March was the lowest in the 20-year history of Inside Mortgage Finance’s large servicer delinquency index. Delinquencies are projected to increase as unemployment rises. (Includes data chart.) Read More

FHFA Pricing Policies Face Scrutiny From Congress

A House subcommittee’s hearing this week focused on loan-level price adjustments set for the GSEs. While Republicans raised concerns with recent LLPA changes, Democrats defended the changes. Read More

MBA Wants FHFA to Fix GSE Pricing for TPO Loans

The Mortgage Bankers Association has raised concerns about GSE pricing for third-party originations in a comment letter to FHFA as the agency undertakes changes to its enterprise regulatory capital framework. Read More

Home Point MSR Sale Means Lost Business for ServiceMac

Subservicer ServiceMac stands to lose a large contract down the road once Mr. Cooper swallows the Home Point portfolio. But that’s the nature of the beast when it comes to being a third-party vendor. Read More

MBA Submits Formal Petition to CFPB on Loss Mitigation

The Mortgage Bankers Association has asked the CFPB to expedite changes to loss-mitigation requirements, noting that regulatory standards haven’t evolved to take into account changes in servicing practices. Read More

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