Lenders and servicers have made significant investments in recapture capabilities in recent years for when interest rates decline and refinancing takes flight.
Certain mortgage companies are starting to feel bullish about lower interest rates, predicting better times ahead and more hiring by lenders. So far this year, personnel counts at nonbank mortgage companies have been weak, in aggregate, but loan brokers are adding to their ranks.
Mortgage servicers should consider factors specific to borrowers’ circumstances when offering loss-mitigation options to avoid foreclosure, according to a recent Mortgage Bankers Association report.
Senate fails to move tax bill, which included changes to LIHTC; GSEs, FHA extend compliance deadline for ROV requirements; Treasury pushes FHLBanks on affordable housing; Morningstar concerned that market sell-off will become a self-fulfilling prophecy; loanDepot sets money aside for settlement related to a cyberattack.
When it comes to MSR sales, UWM is a frequent user, but in the first half of 2024 the company exceeded expectations. For now, its model is: Originate MSR, then sell them.
Some lenders are ramping up hiring in anticipation of a cut in interest rates later this year. However, some observers don’t believe a rate cut will boost originations enough to warrant rising headcounts.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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