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Inside Mortgage Trends

November 22, 2023

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Servicing Still Propping Up Limping Production Income

While most publicly traded companies reported positive results on their production and servicing income, the MBA found that nearly half of the industry failed to turn a profit in the third quarter. (Includes data table.) Read More

Bank MSR Fair Values Hit Historic Highs

Servicing for others by banks and thrifts was nearly unchanged in the third quarter at $3.14 trillion as MSR fair values rose to a historic high of 1.65% of the underlying servicing volume. (Includes data table.) Read More

Strong Demand From Correspondent Buyers Boosts Guild

Guild’s originations unit swung to profitability in the third quarter even as originations declined. Leaders of the nonbank said strong demand from correspondent buyers prompted changes in models used for calculating the value of lock commitments and mortgages held for sale. Read More

Foreclosures Not Solving Housing Supply Problem

The rate of foreclosures is too small to play a meaningful role in boosting housing supply, according to panelists at a recent Urban Institute conference. Read More

MBA Seeks Centralized Data Security Standards

The Mortgage Bankers Association responded to a White House request for information on the prospects for harmonizing cybersecurity regulations. Separately, the New York Department of Financial Services finalized amendments to its cybersecurity regulation. Read More

Differences in Mortgage Costs Linked to Location

Regional differences in mortgage closing costs largely explain the seemingly irrational “failure to refinance” of some borrowers when rates fall. Read More

Automated Income Verification Can Help Qualify More Borrowers

An increase in the number of borrowers with non-traditional income sources has led more lenders to consider automated and AI-based underwriting practices, according to Ocrolus, a tech vendor. Read More

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