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Inside Mortgage Finance

June 22, 2023

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Nonbanks, CUs Gain Ground In Slumping 1Q23 Market

The top five lenders in the first quarter — four nonbanks and a large regional bank — reported a combined 7.7% decline in mortgage production from the previous period. That was roughly half the rate of decline in the overall market. (Includes two data charts.) Read More

CFPB Plans to Streamline Loss-Mitigation Rules

Director Rohit Chopra noted borrower hardships due to excessive paperwork, as well as fees and negative credit reporting events that occurred while a loss-mit application was under review. Read More

Starting to Catch Fire: Higher-Coupon MSR Deals

The tide is starting to turn in favor of servicing sales where higher note rates are involved. Don’t expect premium prices or a tsunami of deals, but at least it’s an outlet. Read More

Supreme Court to Hear Case On USDA, Credit Reports

The Supreme Court agreed to take a case this week involving liability under the Fair Credit Reporting Act for a mortgage from the U.S. Department of Agriculture’s Rural Housing Service. Read More

HUD, Industry Push Back on IG’s FHA Servicing Critiques

The inspector general found fault with how the industry in general and Mr. Cooper in specific handled pandemic-era loss mitigation. Read More

Cenlar Adds Senior Hires, OCC Limits Still in Effect

Cenlar, the big kahuna of subservicing, could be poised for explosive growth. There’s just one problem: The outsourcer is still operating under OCC-imposed limitations. But for how much longer? Read More

Mortgage Credit Tightens Amid Market Uncertainty

For the third consecutive month, mortgage credit availability declined, with some products reaching their lowest levels in a decade. It’s only expected to get worse as lenders worry about the economy. Read More

Campaign Aims to Boost Latino Homeownership

UnidosUS said a new initiative will use policy advocacy and ground-level services such as housing counseling to close the Latino homeownership gap. Read More

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