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Inside Mortgage Finance

October 27, 2022

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Mortgage Originations Take Another Gut Punch in 3Q22

United Wholesale Mortgage appeared to emerge as the top lender in the third quarter, though Rocket was still ahead on a year-to-date basis. With total originations slumping 22% in the third quarter, a handful of lenders managed to boost production. (Includes three data charts.) Read More

FHFA Announces Big Policy Changes at MBA Convention

The Federal Housing Finance Agency will eliminate certain upfront loan-level price adjustments while implementing “targeted” increases for most cash-out refinance transactions. The agency also approved two new credit scoring models for Fannie and Freddie. Read More

Forecasts: Lower Interest Rates Won’t Stop Origination Decline

As bad as originations were this year, 2023 is projected to be worse. Purchase-mortgage business is expected to decline even as mortgage rates come down and home prices level off. Read More

LO Head Hunting Continues Unabated (Sort Of)

With all the layoffs this year, it stands to reason that finding loan officer talent would be an easy task. But that’s not necessarily the case. Overall, the LO landscape remains competitive. Read More

Net Profits for Mortgage Lenders Go Negative

Plunging margins since the third quarter of 2020 have driven net profits for originations down about 210 basis points, according to MBA economists. Read More

As Expected, MSRs a Panacea. But for How Much Longer?

Mr. Cooper posted a respectable profit for the third quarter, but challenges remain. Behind the scenes, this top-10-ranked shop has been both buying and selling bulk mortgage servicing rights. Read More

Mixed Reaction to Delay in Ginnie’s RBC Requirements

Industry trade groups want Ginnie Mae to continue making changes to its risk-based capital requirements for nonbank issuers during the extended implementation period. Read More

Attorneys Expect CFPB to Appeal Funding Structure Ruling

Industry attorneys believe the CFPB will appeal a Fifth Circuit opinion finding its funding structure unconstitutional. They expect the fight to end in some form of legislative arrangement. Read More

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