Trump’s election win stalled the Biden administration’s effort to impose tougher capital requirements for banks. Federal regulators are likely to continue to work on the reforms, but in a more bank-friendly way.
Four companies among the top 10 primary servicers upped their portfolios by double digits on a percentage basis in 2024 — all nonbanks. (Includes three data tables.)
Lenders are facing a tough market for originations, helping to prompt sales of servicing. The supply of MSR is coming both from older vintages with interest rates well below current rates and new production in which a lender might not want to hedge the MSR.
The Section 199A deduction for pass-through entities is set to expire at the end of this year. The Mortgage Bankers Association is pushing for an extension, which appears likely. The question is how Congress will pay for massive tax breaks.
Depository institutions posted nice gains in MSR values in the fourth quarter, thanks to rising interest rates. But higher rates come at a cost in the form of lower originations.
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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