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Inside Mortgage Finance

February 8, 2024

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Agency Holds Up Better in 4Q23 Originations Drought

A few top lenders managed to gain share in primary market originations of agency-eligible loans during the fourth quarter. But product totals were down across the board. (Includes two data tables.) Read More

Trade Groups File Lawsuit Against New CRA Standards

The American Bankers Association and other trade groups want the court to vacate the new standards under the Community Reinvestment Act. Read More

FHFA Directs GSEs to Work to Align Reps and Warrants

While FHFA didn’t provide details, lenders believe the agency wants the GSEs to coordinate their mortgage repurchase request policies. Read More

A Price War in Wholesale Funded by MSR Sales

A mini-price war from UWM and it’s not even March. As one warehouse veteran put it: “It’s a little like the old Rockefeller tactic of pricing out the competition. It seems to work, but at a cost.” Read More

Bank Regulators Considering Changes to Capital Proposal

Banking regulators appear to be taking criticism of their capital requirements proposal to heart. The impact the proposal would have on the mortgage market remains a major issue. Read More

Cardinal, Others Test the MSR Waters

Servicing sales are off to a strong start in the new year, especially now with Federal Reserve interest rate cuts hardly a sure thing. Another factor is a fresh round of available capital from investors. Read More

Powell Says the Fed Won’t Be Swayed by Political Pressure

Federal Reserve Chair Jerome Powell acknowledged that housing sector activity has been largely subdued due to high interest rates. However, he said the central bank is “not targeting housing price inflation.” Read More

Senate Democrats Introduce Bill for VA Partial Claims

The bill seeks to provide VA borrowers a partial claim loss-mitigation option to use after they exit a forbearance. Read More

NYCB in Turmoil Following Commercial Loan Losses

NYCB took an unexpected loss in the fourth quarter tied to commercial loans and its multifamily business. The bank was then downgraded by Moody’s. Read More

UWM Files Lawsuit Against Florida Broker for Breaking ‘All-In’ Pact

UWM has sued Atlantic Trust Mortgage for allegedly breaking a contract term that barred it from originating loans with Rocket Mortgage. Read More

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