Agency MBS still accounted for the biggest chunk of outstanding home loans, and it's all virtually immune to refinancing. Retained whole-loan portfolios were the fastest-growing sector in the third quarter. (Includes three data charts.)
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Mortgage servicing rights are still a hot commodity and new investors continue to surface, but prices aren't what they used to be. One bright spot: Credit quality looks promising, at least on conventional rights.
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Will investors be interested in buying shares in a special purpose acquisition company that houses a bank/warehouse lender and assets put together by fintech guru Mike Cagney? Maybe in “normal times,” but we’re not operating in normal times.
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The CFPB wants to create a public registry to track nonbank financial firms that have been cited by a federal, state or local authority for unfair, deceptive or abusive acts or practices. The goal: To add sunshine to the markets and enhance regulators’ supervisory efforts.
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Fewer fix-and-flip home sales are occurring these days, a negative sign for this once white-hot sector. What's more, the profit per transaction dropped to $62,000 in the third quarter. Meanwhile, remember industry veteran Bill Dallas? He may be returning to the mortgage industry for one more rodeo.
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