The top five servicers saw almost no growth in their combined owned servicing during the second quarter. But a number of companies in lower tiers posted big gains. (Includes three data charts.)
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Falling origination volumes and a return to loan-loss provisions point to lower net income for Fannie Mae and Freddie Mac through the end of the year.
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With limited demand for refinancing, lenders are peddling other products. While nonbanks are offering home-equity loans, some lenders are selling mortgages with a reduced-fee refi option down the road.
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Lenders have already priced in a recession, economists said, forecasting mortgage rates to keep moving sideways, despite the recent interest rate hike by the Federal Reserve.
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The REIT’s investments in MSRs increased by 20.2% in the second quarter, based on unpaid principal balance, to $109.0 billion as of the end of June. Annaly sees the assets as a nice hedge to its traditional investments in agency MBS.
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With prospects for the Build Back Better Act doomed, Senate leadership has proposed a new version of the budget reconciliation legislation under the moniker the Inflation Reduction Act.
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When a company right-sizes operations, how many employees lose their job?; margins improve in the second quarter; applications for refis increase.
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