Proceeds from the recent issuance have largely gone toward paying down the companies’ debt issuance from 2021 when they needed funds for their refi business.
Although almost all of the cost of funding a loan through MBS is passed through to consumers, borrowers only see about 40% of the “cost” of a specified pool pay-up.
Lenders cut more staff; rate locks up 14% in January; borrowers have plenty of equity; bill to limit trigger leads in House; LoanCare revamps servicing website; Staircase launches ChatMTG.
U.S. Mortgage Insurers warned federal banking regulators against unintended consequences to the housing market if they finalize changes to capital requirements for large banks without fixes.
Below contract appraisals in majority Black census tracts are much less likely to receive time adjustments than those in majority white tracts, according to new research from FHFA.
Lenders need specific plans for outreach to borrowers that are Black, indigenous and people of color, according to industry participants. Focusing on the borrowers can be difficult but will pay off, the industry participants added.
Citizens Bank left the wholesale channel amid weak margins; Mr. Cooper’s cyberattack recovery includes large expenses for borrower services; new leader at broker group; Consolidated Analytics acquires Real Info; customer relationship management tool with artificial intelligence for loan officers.
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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