When Fannie/Freddie business volume trends lower, the risk profile generally skews higher. And that’s exactly what happened in the first quarter of 2021. (Includes two data charts.)
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There are signs that the “adverse market refinance fee” is pushing some business away from Fannie and Freddie toward government mortgage insurance programs. (Includes two data charts.)
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With refi business expected to decline later this year, a number of shops are rethinking their hiring plans. Lenders are set to face margin compression, excess capacity and consolidation.
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Subservicing has been a growth business the past several years but now some mortgage bankers, flush with cash from the refi boom, are bringing the task inhouse.
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Although the FHA’s Mutual Mortgage Insurance Fund is safely above the 2% capital reserve ratio, HUD is holding firm against demands that insurance premiums be cut.
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