The mortgage industry keeps pining for a rate cut but so far the Fed has resisted. This week, a hotter-than-anticipated CPI reading stalled momentum on the rate front and MBS prices headed lower.

When nonbanks suffer in the origination game, so do their bankers. According to the latest analysis from Inside Mortgage Finance, warehouse commitments totaled $96.0 billion at yearend. (Includes data table.)

What does the stalled mortgage job market need? An interest rate cut by the Federal Reserve. Otherwise, limited hiring and layoffs will be the order of the day.

Companywide, revenue last year came in at $974.0 million, down 22.3% from 2022.

Foreclosure activity declined by 1% on a monthly basis in February.

The top three MBS issuers in February: UWM, PennyMac and Rocket Mortgage.

At Jan. 31, mortgage bankers employed 186,000, the lowest reading in a decade.

Otting will be given a one-time stock option grant to acquire 15 million shares of NYCB’s common at a strike price of $2.00 a share…

Secondary market prices are firming up for non-QM whole loans, but there is chatter among investors that early-stage delinquencies are on the rise. A blip on the radar screen or something else?

MSR buyers? The field is getting crowded and PE-backed investors continue to be aggressive. Even Guild Mortgage is open to the idea of buying, but only if the situation meets its parameters.