Nearly all sellers recorded huge declines in agency deliveries in late 2022 as purchase-mortgage volume plummeted. Ginnie ranked as the top agency MBS issuer in the fourth quarter. (Includes two data charts.)
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A new year has commenced, with originators of all sizes trying to figure out the best way to stay afloat until rates fall markedly and conditions improve. The biggest challenge, perhaps: cash burn.
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The mortgage servicer reached a relatively modest settlement with the Massachusetts Attorney General’s Office to resolve alleged violations of mortgage servicing and debt collection regulations.
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Divided leadership in Congress means bipartisanship will be required to get bills to President Biden’s desk. Not many mortgage-related bills are expected to make it that far in the next two years.
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In the lame duck session, Congress managed to pass a spending bill with funding for FHA IT modernization. A separate bill updating standards for VA appraisals also made it to President Biden’s desk.
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Prices have come back down to earth for mortgage servicing rights, especially for Ginnie product. But what about reverse FHA-backed MSRs? Sometime this quarter GNMA will find out as it moves to resolve its legal rights regarding RMF.
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Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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