Small institutions were the fastest-growing segment of the banking industry in terms of retail mortgage originations in the third quarter of 2019. (Includes two data charts.)
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Purchase-mortgage production is seen steady while refi activity is expected to decline. Low refi demand will cut into lenders’ profit margins. (Includes data chart.)
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Most subservicing vendors continued to see a growth in contracts during 3Q19, but a few specialists are heading for the exits: Ditech (via a bankruptcy sale) and RoundPoint, which is being bought by Freedom Mortgage. (Includes data chart.)
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The deal between Genworth Financial and China Oceanwide was extended for the 13th time in December. Genworth warned that if the deal fails, its U.S. private MI unit could face difficulties.
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Some trade groups urged the Supreme Court to pursue a narrow remedy if the CFPB’s structure is found unconstitutional, in order to prevent market disruption.
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2019 seemed like a slow year for mortgage-related acquisitions, but if you look beneath the surface, deals were getting done, particularly in the non-QM sector.