Banks continued to build their retained mortgage portfolios, but mostly with fixed-rate mortgages, while borrowing costs rose significantly. The agency MSR market is slowly shifting toward higher-coupon loans. (Includes three data charts.)
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CFPB Director Rohit Chopra said the mortgage market would see severe disruption if the Supreme Court finds the bureau’s funding structure unconstitutional.
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Concerns are growing that a credit crunch of sorts might be on the way for nonbanks as federally insured warehouse lenders begin to pull back. At least one veteran player, Comerica, has exited the space.
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What’s a mortgage CEO worth these days? If it’s a public company, that’s a decision for shareholders and the board. Most senior managers had their pay reduced last year, but not all. (Includes data chart.)
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Despite their support for a standardized approach for evaluating the validity of an ROV, trade groups disagree that lenders should face fair-lending liability for the valuations made by independent appraisers.
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