Most impacted securities have already made the transition from the London Interbank Offered Rate. S&P expects the LIBOR Act will minimize the risk on the remainder.
For the third consecutive month, mortgage credit availability declined, with some products reaching their lowest levels in a decade. It’s only expected to get worse as lenders worry about the economy.
Wells Fargo stopped originating jumbos through the correspondent channel and few lenders moved to pick up the slack. Meanwhile, the retail channel gained market share. (Includes data chart.)
First-lien holdings at banks increased somewhat in the first quarter of 2023. And recent bank failures led to portfolios changing hands. (Includes data chart.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.