A large bank merger and Wells Fargo’s move to unload Ginnie Mae servicing played key roles in the surge of bulk MSR transfers during the second quarter.
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Expiration of the GSE “patch” will shift more risk to private securities and away from Fannie and Freddie. But, according to CoreLogic, dismantling the loophole will impact millennial borrowers and retirees.
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Falling interest rates produced a record increase in new originations and soaring production revenue in the second quarter, but MSR hedging results offset much of the gain.
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Among publicly traded mortgage shops, Lending Tree CEO Doug Lebda took home the most bacon last year: $42.3 million in total compensation. But what do CEOs at private firms earn? The answer is not simple.
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Global slowdown, tighter Chinese cash flow, and fewer available homes for sale triggered a steep decline in U.S. home purchases by resident and non-resident foreigners, a recent NAR survey found.
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The decline in interest rates earlier this year increased originations and income for lenders and delayed some M&A activity. The lower rates also provided lenders with time to prepare for the future.
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The department has temporarily shut down the FHA Loan Review System to fix server-related problems that resulted in the loss of data and documents. HUD expects the problem will be resolved this weekend.
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