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Inside Mortgage Finance

April 20, 2023

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MI Volume Drops in 1Q23 Agency MBS, DTIs Rising

Volume was down across the board for insured mortgages, but PMIs saw a modest gain in market share in first-quarter agency MBS issuance. (Includes three data charts.) Read More

The Origination Leader Among Banks: U.S. Bank

U.S. Bank surpassed JPMorgan Chase and Wells Fargo in terms of mortgage originations in the first quarter of 2023. Profit margins also seem to be improving. Read More

Freddie Stiffens Rules for Servicer Custodial Accounts

In what appears to be a response to recent bank failures, Freddie has said servicers are responsible for any losses out of custodial accounts if a depository goes bankrupt. Read More

FHA Proposes Allowing Use of ADU Rental Income for Underwriting

FHA said the amount of rental income from the accessory dwelling unit used to determine income may not exceed 30% of the total income used to qualify the borrower. Read More

Early End to COVID Emergency Puts Servicers in a Fix

The earlier-than-expected end of the COVID national emergency has brought additional regulatory pressure on mortgage servicers. Read More

C-Suite Compensation Trimmed — But Not for All

2022 was a tough year for lenders, servicers and others who make their living off of residential mortgages, which usually means lower pay for senior staff. But a review of early proxy filers revealed a few CEOs got nice raises. Read More

Industry Criticizes Fannie’s Purported Condo Blacklist

Mortgage industry participants said Fannie should make public a list of condo projects that are ineligible for sale to the enterprise. Fannie said lenders have other financing outlets, including holding the loans in portfolio. Read More

GSEs Delay Transition for Uniform Closing Datasets

Technical problems for lenders have forced the GSEs to slow the transition to the Uniform Closing Datasets. Read More

Grapevine: Loan Demand Remains Sensitive; Home Prices Up Slightly

Rising interest rates limit demand for mortgages; home prices increase; few borrowers remain in forbearance; foreclosure activity up slightly. Read More

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