One lender says that when refinances go bust, the industry can’t expect to waltz into the purchase market without there being casualties. Others are more sanguine.
While correspondent sales volume increased on an annual basis in 2020, two of the top five sellers posted diminished sales. Guaranteed Rate and loanDepot are less reliant on correspondent sales than the other top sellers. (Includes data chart.)
In a bid to diversify its product offerings, New York Community Bank is merging with the mortgage-centric Flagstar. Three other depositories are engaged in M&A deals as well.
Sterling Bancorp recently reached a $12.5 million settlement for allegedly violating the Securities Act. The company is now ready to turn the page on its non-agency past.
If new policies that incentivize homeownership are not implemented, the Hispanic community will be the only ethnic group to experience an ownership gain.
Remote ink notarizations made mortgage closings exceptionally convenient amid the coronavirus, though the MBA suggests that state policymakers should focus on remote online notarization, which is more secure.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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