To survive the next few quarters, lenders must continue to cut costs...

More bad news for Blackstone's reverse lender, Finance of America...

Loan buyback demands don’t seem to be an issue in the world of non-QM lending, at least not yet. But that could change, especially for low-capital originators who get swamped by aggregator demands, even on performing mortgages.

The current bad times for lenders can’t last forever. Eventually, the Federal Reserve will ease credit and normalcy will return to the industry. But before we get there, more job cuts will be the order of the day.

Many owners of MSRs will have an opportunity to mark up the asset value of their holdings when reporting third-quarter results. However, the gains likely won’t be all that large.

“When the yield on the 10-year [Treasury] goes up more than 50 basis points in less than a month, something is going to get broken,” one consultant noted.

Unless mortgage rates begin declining, lenders and brokers alike will shed additional jobs...

An MBA official noted that MSR valuations can “vary significantly due to the use of different models"...

Earnings season kicks off later in the week with third quarter results from JPMorgan Chase.

REITs that invest in MBS likely have been getting margin-called from repo lenders.