Six of the top 10 significant defects in loans acquired by Fannie Mae in the first quarter of this year weren’t on the list in the last quarter of 2023. Income calculation, though remained at the top of the list.
Banks and thrifts reported $44.54 billion in retail mortgage production in the second quarter, making it the strongest three-month period for bank retail lending since the third quarter of 2022. (Includes two data tables.)
Improving efficiency played a big role in boosting mortgage-banking profits in the second quarter as gain-on-sale margins narrowed while servicing took a hit on net MSR valuation. (Includes data table.)
One reason companies should formally adopt generative AI is that three-quarters of employees say they already use ChatGPT or one of its competitors in the workplace.
The introduction of MISMO Link should democratize the creation and implementation of standards and processes even among those that aren’t MISMO standards experts.
Loan performance deteriorated across most late-payment categories in the agency mortgage-backed securities market in the second quarter. However, delinquency rates remained lower than six months ago. (Includes data table.)
Some 13.8% of the total number of applications for conventional-conforming mortgages submitted last year were denied, compared to 14.3% in 2022. Denials for refinances jumped. (Includes data table.)
The Federal Reserve, FHFA, large banks and the GSEs are all struggling to model the future impact of climate change, both on their specific businesses and on the broader economy.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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