Wholesale-broker production was up in the third quarter largely because the biggest lender in the channel increased its funding volume. The retail channel saw a 5% drop. (Includes six data charts.)
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The bulk market for MSR sales has never been better, and that’s a bit of a problem. Activity is so robust that due diligence reviews are piling up, delaying deal closings. A good problem to have? It depends on your profit goals.
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Non-QMs offer the promise of strong margins and a product to replace refinance volume. They also account for a miniscule portion of mortgage originations.
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Senate Republicans say they’re prepared to let the current debt ceiling lapse if Democrats won’t use the budget reconciliation process to pass it on their own, with implications for the GSEs.
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FHA must do more to ensure its lenders approve only loans for borrowers who meet the program’s statutory, regulatory and eligibility requirements, the HUD’s internal auditor said.
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The report, alongside several other federal agency reports, addresses how the government will act in creating new standards to protect communities and mitigate climate change’s economic effects.
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Pentagon Federal Credit Union, commonly known as PenFed, has entered the arena of lending money to nonbank primary market originators. Details? So far, there are few.
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We pointed it out before, but the situation has not changed: Nonbanks that went public over the past 16 months are not doing well when it comes to share price. As for meaning: Such a performance does not bode well for other nonbanks contemplating life in the public realm.
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