Third-party originators typically do better in strong purchase-mortgage markets, which was apparent again in the fourth quarter of 2022. (Includes six data charts.)
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The change affects new loans endorsed on or after March 20. The last MIP cut occurred in early 2015, when FHA trimmed premiums by 50 bps for 30-year fixed-rate mortgages.
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By booking a higher provision for credit losses in the third quarter, Freddie set the stage for improved financial performance in the fourth.
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MBA’s Bob Broeksmit this week criticized the 250% risk weighting placed on mortgage servicing rights held by federally insured depositories. Meanwhile, several top-ranked servicers discussed issues and challenges they’re facing, from forbearance to automation and beyond.
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The delinquency rate was pushed up during the fourth quarter by a weakening economy and inflation. The unemployment rate is projected to increase this year, which will likely drive delinquencies higher. (Includes data chart.)
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The sale of mortgage company “assets” are increasing while “franchise” deals remain few and far between. What lies ahead? In a few quarters we may see larger shops merge, one consultant predicted.
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Bulk servicing packages continue to hit the open market as the first quarter draws to a close. Meanwhile, Mr. Cooper puts a number on its 2022 layoffs, burying the disclosure in an SEC filing: 1,200.
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