Commercial banks and savings institutions once again reduced their holdings of mortgage servicing rights during the first quarter of 2018, according to an Inside Mortgage Trends analysis of call-report data. [Includes one data chart.]
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Trading in mortgage servicing rights is as good as it’s been for years, but it remains a small market full of pricing and transactional irregularities, according to industry experts speaking on a panel at the secondary market conference sponsored by the Mortgage Bankers Association last month.
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With razor-thin production margins becoming the norm this year, some originators are thinking about, or moving ahead with plans to trim the compensation levels of their most valuable asset: loan officers.
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The incidence of defects in mortgage loan applications has decreased significantly in the last five years, according to First American Financial’s Loan Application Defect Index.
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Retail loan production gained share in the jumbo and government-insured markets during the first quarter of 2018 but lost a little ground in the conventional-conforming space, according to survey data compiled by Inside Mortgage Finance. [Includes two data charts.]
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Are mortgage lenders in the financial services business? The answer from the Internal Revenue Service on that question will determine whether lenders organized as pass-through entities can take a significant deduction included in the Tax Cuts and Jobs Act.
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Originations of purchase mortgages are expected to increase this year even though interest rates and home prices continue to rise. “The underlying demand for buying a home is holding up, and will continue to do so, as long as the economy is generating solid job and income growth,” said Sam Khater, chief economist at Freddie Mac.
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