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Inside Mortgage Finance

May 25, 2023

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Market Tilts Toward TPO in 1Q23, Rivals Fill Wells Void

PennyMac appeared to gain the most from Wells Fargo's exit from the correspondent market during the first quarter. Slumping refinance business hit the retail channel hard. (Includes six data charts.) Read More

Lenders Concerned About Regulators’ Response to Bank Failures

The MBA president castigated the government for its response to the banking crisis, particularly regulator efforts to expand their authority over nonbank sellers and servicers. Read More

Gordon Hints at New FHA Loss-Mitigation Proposal

FHA Commissioner Julia Gordon said FHA plans to “very soon” add a proposal to its drafting table on options that mortgage servicers can use to help borrowers reduce their monthly payments to keep them in their homes. Read More

Proposed GSE Fee Tied to DTI Ratio Won’t Be Reintroduced

At a congressional hearing this week, the FHFA director faced four hours of questioning, including queries on the recently rescinded proposed fee based on a borrower’s DTI ratio. Read More

Rocket Takes Some MSR Money Off the Table

Banks are less aggressive these days when it comes to buying MSRs. But not all. JPMorgan recently acquired a $21 billion package of servicing rights from Rocket, the nation’s fifth-largest processor of loans. Read More

New Rocket Loan Offers Downpayment, PMI Assistance

The company estimated more than 90 million households will meet the income eligibility requirements for the program. Read More

A Possible Sign of a Bottom: Nonbank Debt Prices

If you’re looking for a sign that mortgage banking has bottomed, take a glance at the debt prices of nonbank lender/servicers. Many are up, though not all. Now, if only interest rates would cooperate. Read More

Chase Executives Tout Positives From First Republic Acquisition

Chase’s top officials shed light this week on how First Republic Bank’s high-quality mortgage assets and affluent borrowers fit right into the megabank’s wheelhouse. Read More

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