While the GSEs are under mandates to shrink their retained portfolios, Freddie’s holdings increased in the final three months of 2022. (Includes data chart.)
Appraisal reduction amounts, which measure a new appraisal’s shortfall compared to the loan’s unpaid balance, are generally considered an indicator of expected losses.
Despite a sharp decline in primary market originations, the agency MSR market continued to grow in the fourth quarter. Ginnie servicing was the fastest-growing segment. (Includes two data charts.)
Nearly all sellers recorded huge declines in agency deliveries in late 2022 as purchase-mortgage volume plummeted. Ginnie ranked as the top agency MBS issuer in the fourth quarter. (Includes two data charts.)
Fannie, Freddie and Ginnie saw a modest 4% increase in purchase-mortgage business during the third quarter, not nearly enough to offset the ongoing collapse in refinance activity. (Includes two data charts.)
Agency seller/servicers have a new set of net worth requirements to adhere to. The good news: The final language is close to what was originally proposed.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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