Most of the gain in agency business was at Ginnie Mae as the data show a migration of lower-score borrowers from Fannie and Freddie to the FHA market. (Includes two data charts.)
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The Supreme Court heard oral arguments this week in a case challenging the constitutionality of the CFPB’s funding structure. Analysts say the bureau has a good chance of prevailing.
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What are nonbanks getting for their servicing rights in the secondary market and how much of a right does Fannie Mae have to that information? Hard to say, but some factions of the industry are bristling at inquiries from the GSE.
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With interest rates continuing to head north, servicing-related assets are becoming more valuable in a parched origination landscape. SLS, a large servicer, will have a new parent and other deals may be in the works.
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The GSEs provided new disclosures on temporary buydowns. Borrowers most commonly take a buydown that lasts no more than two years and usage of the feature is declining amid elevated interest rates.
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The stage is set for some potential buyers to be priced out, which would reduce demand and the upward pressure on prices, according to data analytics firm Attom.
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Income verification services provided by the IRS could continue to operate during a government shutdown; Rocket leads the way on raising loan limits; Redfin leaves NAR.
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The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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