Mr. Cooper was the top buyer of bulk agency MSR packages, with a huge chunk of it coming from United Wholesale Mortgage. Coissuance activity also increased. (Includes three data tables.)
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Loan performance deteriorated across most late-payment categories in the agency mortgage-backed securities market in the second quarter. However, delinquency rates remained lower than six months ago. (Includes data table.)
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A lack of financial sophistication leads borrowers to overpay for a mortgage, according to new research. Analysts at the Urban Institute suggest that federal agencies could help address the issue.
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Mortgage lenders must monitor the insurance landscape and inform their loan officers on the topic given that insurance costs help determine a borrower’s monthly escrow obligations.
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NYCB scales back with sale of Flagstar’s mortgage operations; Cornerstone Bank makes leadership hires; MISMO working group on AVMs; AI updates.
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