Falling interest rates and surging originations were poor conditions for bulk MSR sales in 3Q19, but coissuance activity was up sharply from the previous period. (Includes three data charts.)
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In January, the origination forecast for 2019 looked bleak but that was before rates began their relentless descent. Today? Optimism abounds with several shops reporting strong lending results for 3Q19.
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A smaller share of new Fannie Mae/Freddie Mac purchase business were recorded in the highest risk category. In the third quarter, most GSE loan acquisitions had credit scores of 740 and up. (Includes two data charts.)
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In its thirst to expand the company’s presence in wholesale lending, Quicken Loans Mortgage Services this week unveiled big hiring plans for Detroit and Charlotte.
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The number of eNotes being added to the MERS eRegistry is sharply increasing, indicating a growing use of eClosings. Some 36,000 eNotes were added in the third quarter compared with 17,000 in all of 2018.
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A lack of data standardization is holding back adoption of digital mortgage processes, according to a survey of tech vendors. Fannie Mae is urging the industry to adopt standards set by MISMO.
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