Lenders reported measurable declines in income from originations and secondary market as production volume fell and per-loan costs rose. MSR valuations hit servicing hard. (Includes data chart.)
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Bank call-report data show a huge drop in mortgage banking income from the first to the second quarter, but several top banks reported big gains. (Includes data chart.)
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When an industry thrives, its chief trade organization usually thrives as well. But not in FY20, when COVID-19 and accounting entries from the year before nicked MBA’s bottom line.
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It was thought that higher capital requirements proposed on Ginnie Mae issuers would ding valuations of the MSR asset. But so far, that hasn’t happened. Credit: strong demand and declining forbearance ratios.
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While analysts continue to track potential losses from property damage due to Hurricane Ida this week, servicers of mortgages for the GSEs have been instructed to proactively offer forbearance to hurricane victims.
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