Roughly a third of the bulk MSR transfers recorded in the first quarter of 2020 came as NewRez boarded servicing rights it acquired from Ditech Financial several months ago. (Includes three data tables.)
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Is warehouse credit getting so tight that some nonbanks are considering ei-ther purchasing or becoming affiliated with a federally insured depository? Looks that way.
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Production in all three channels was down from the fourth quarter, but brokers had a smaller decline than correspondents and retail producers. (Includes two data charts.)
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Banks increased reserves for loans held in portfolio during the first quarter on implementation of new accounting standards. Many delayed the impact of CECL on regulatory capital.
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Over the last couple of weeks, the Federal Reserve has slowly tapered its MBS purchases. But even with healthy MBS prices, mortgage rates remain higher than formula dictates.
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Even though coronavirus cases are still increasing, some states like Texas and Georgia plan to reopen businesses, hoping that better days are ahead. Mortgage implications?
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The share of first-time homebuyers leaning on downpayment assistance for mortgages increased in 2019, according to a survey by the National Association of Realtors.
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