Hefty MSR hedging losses crushed profits on mortgage servicing in the first quarter, but mortgage bankers ended the period in better financial shape than they started it. (Includes data chart.)
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The first quarter of 2020 marked the lowest bank earnings on mortgage banking activity since the financial crisis. A big part of the decline came from steep losses at Fifth Third and Bank of America. (Includes data chart.)
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After a planned merger between Amherst Residential and Front Yard Residential fell through, the head of Altisource Portfolio Solutions expressed his displeasure with Front Yard’s board.
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In his semiannual report to Congress on Tuesday, Fed Chair Jerome Powell described the MBS market as "vital to the flow of credit in the economy."
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The overall forbearance rate is levelling off but loans packaged into non-agency MBS and those held in portfolio showed a relief-request reading of 10.18%, up 15 basis points.
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Redlining practices of several decades ago continue to have an adverse impact on black families’ homeownership rates and home equity, according to a recent study by Redfin.
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