Guild’s originations unit swung to profitability in the third quarter even as originations declined. Leaders of the nonbank said strong demand from correspondent buyers prompted changes in models used for calculating the value of lock commitments and mortgages held for sale.
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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