When it comes to net revenue, MBA had a strong showing in fiscal 2022. But the trade group remains worried about what industry consolidation might do to its numbers going forward.
The severe correction in residential originations is causing turmoil. Not only are nonbanks closing their doors or consolidating, but so too are the warehouse funders that lend them cash. (Includes data chart.)
Early-stage delinquencies increased at large servicers during the second quarter of 2023. Servicers anticipate further declines in loan performance. (Includes data chart.)
In the purchase loans securitized by the agencies in the second quarter, the biggest gain was in GSE loans with no primary MI coverage. (Includes three data charts.)
The agency single-family servicing market grew more rapidly in the second quarter of 2023, with nonbanks racking up most of the gains. Ginnie remained the fastest-growing sector.
The reading for the total delinquency rate at the end of March was the lowest in the 20-year history of Inside Mortgage Finance’s large servicer delinquency index. Delinquencies are projected to increase as unemployment rises. (Includes data chart.)
Last year was a trying year for most lenders. Among publicly traded shops, Rocket’s Jay Farner was one of the highest paid CEOs in the land, topping Mat Ishbia at United Wholesale Mortgage.
2022 was a tough year for lenders, servicers and others who make their living off of residential mortgages, which usually means lower pay for senior staff. But a review of early proxy filers revealed a few CEOs got nice raises.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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