More than $1 trillion of agency servicing rights changed hands in 2022. While bulk MSR transfers soared last year, the coissuance market was hammered by the sharp decline in agency business. (Includes three data charts.)
Read More
The delinquency rate on loans in agency MBS increased gradually between March and September, then spiked during the fourth quarter. (Includes data chart.)
Read More
Last year was a barn-burner for MSR sales. But so many nonbanks need to sell this year that too much supply has resulted in weaker pricing. What’s a mortgage banker to do?
Read More
Officials at the bank suggest Wells won’t take much of a hit from the loss of correspondent production. And profitability on the servicing side is expected to improve as the portfolio shrinks.
Read More
Fannie and Freddie will institute their own models for assessing the values of MSRs held by seller/servicers, even if those MSRs are for mortgages not owned or guaranteed by the GSEs.
Read More
Rocket is known for refis. Demand for refis is limited due to rising interest rates. So Rocket is taking steps to boost originations of purchase mortgages.
Read More
A congressionally mandated update to the Internal Revenue Service’s Income Verification Express System is causing some alarm among mortgage trade representatives. The update was meant to save time by moving the system from a fax-based process to a real-time, digital one.
Read More