Flagstar’s transfer of $73.9 billion of agency servicing rights accounted for over a third of the bulk MSR transfers in the fourth quarter. Coissuance volume was up slightly with higher agency MBS issuance. (Includes three data tables.)

Scott Turner, nominee for secretary of the Department of Housing and Urban Development, told senators during his confirmation hearing that Congress holds the purse strings.

The total delinquency rate on loans in agency MBS increased by 24 basis points during the fourth quarter. Delinquencies were up at FHA, VA and the GSEs. The rate is expected to rise modestly in 2025. (Includes data table.)

While electronic closings offer faster turn times, adoption of the technology comes with some complications. Still, the share of eNotes is expected to triple by 2028.

The state’s anti-discrimination law is the first of its kind and will go into effect in 2026.

Economic uncertainty will require mortgage companies to be more flexible in how they scale their operations.

Recently divorced or widowed homeowners told the CFPB that mortgage servicers sometimes say they must refinance, even when they should be able assume the existing mortgage.

FCC warns scammers are successfully impersonating mortgage companies; Rocket begins first phase of rebrand; household growth expected to slow; MBA expands college program; Lower acquires technology vendor; MTC increases transparency on MSR valuations; Voxtur Analytics considering a sale; automated loan mod offering.

The jump in refinance business, and a shift from cash-out to rate-term transactions, changed the credit-risk profile for Fannie and Freddie in the fourth quarter.

Commercial banks and savings institutions reported another decline in the volume of mortgages they repurchased in the third quarter of 2024. PNC Bank accounted for the largest chunk of the bank industry’s repurchases, at 11.3%.