A few top lenders managed to gain share in primary market originations of agency-eligible loans during the fourth quarter. But product totals were down across the board. (Includes two data tables.)
The GSEs’ new multifamily loan acquisitions came to just $82.7 billion in the first 10 months of the year. That was down 23.8% from the first 10 months of 2022.
UWM was the top originator of purchase loans for the first nine months of 2023, while Rocket held the lead in refinance lending. The FHA saw a rising share of purchase loans sold to the agencies in the third quarter. (Includes four data tables.)
The MBA and others are pushing for federal regulators to go back to the drawing board on capital requirements for large banks. The regulators state that they will be flexible but defend the proposal.
The residential finance industry is hoping the Federal Reserve and/or the GSEs might come to the rescue by playing a role in driving down mortgage rates. How’s it looking, then? Not so good.
The MBA, NAHB and NAR want the Fed to announce it’s done raising interest rates and that it won’t sell MBS holdings until there’s some stability in the housing market. The request could fall on deaf ears.
Warehouse lender Texas Capital Bank claims it lost money after Ginnie Mae extinguished its interest in liens associated with the now-defunct Reverse Mortgage Funding.
Most of the gain in agency business was at Ginnie Mae as the data show a migration of lower-score borrowers from Fannie and Freddie to the FHA market. (Includes two data charts.)
A new study shows that the shift from the tri-merge to a bi-merge credit report will have a minimal effect on the average borrower’s credit score, at least using Classic FICO.
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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