Prior to the second quarter of 2024, lenders participating in the MBA survey posted losses, on average, for eight consecutive quarters.

The REIT and Cherry Hill Mortgage Management, the external manager owned by Stanley Middleman, disagree about whether CHMI should pay an $18.4 million fee to terminate the external management agreement.

“The economy is not sending any signals that we need to be in a hurry to lower rates,” said Federal Reserve Chair Jerome Powell.

The loss was largely from a negative $878.3 million change in the fair value of mortgage servicing rights.

There was little movement in applications for purchase mortgages or refinances last week.

Movements in Treasury yields — rather than actions by the Fed — have been a bigger driver in changes to interest rates on mortgages recently.

The capital relief will be provided via an adjustment to MSR values.

One Company, One Exam aims to streamline mortgage examinations for companies by completing one state exam per company using a series of standardized exam questions.

The modest decline in delinquencies in the third quarter was tied to early-stage delinquencies, while later-stage delinquencies increased.

Hedging gains in the third quarter didn’t fully wipe out a $446.1 million decline in fair value of MSRs at UWM.