Combined, non-agency jumbos and conforming jumbos accounted for 16.1% of total originations during the third quarter. Nonbanks are increasing their lending as some banks pull back. (Includes three data tables.)
Some MSR buyers are offering exceptionally strong bids for servicing, counting on being able to recapture borrowers when interest rates drop. The high bids are creating some complications for sellers and MSR valuations.
It’s never too early to assess hiring plans for a new year. But this time around, it’s a bit trickier given a new power base in Washington and the prospect for higher interest rates.
Prepayment rates during the recent dip in mortgage rates were higher than expected, suggesting lenders have extra staff on hand. Still, it could be a while before interest rates fall low enough to significantly boost lending.
While major rulemakings will pause until a new presidential administration takes over, work will continue on proposed rules, according to regulatory agency leaders.
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