Originations of jumbo and expanded-credit mortgages fell 7% from the second to the third quarter, more than double the rate of decline in agency production. (Includes two data tables.)
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With the supply of MSRs expected to grow, there are concerns that prices won’t hold up. Meanwhile, the CFPB is considering incentives for lenders to retain servicing.
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Delinquencies in the 30-60-day bucket are increasing in line with trends in unemployment. Foreclosures remain limited though there are concerns about borrowers with low levels of built-up equity. (Includes data table.)
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It’s never good news when companies see their share price break the buck. Better.com and Finance of America are facing that prospect. The big question: How much time do they have left to right the ship?
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Even though machine learning and other forms of artificial intelligence have made the mortgage industry much more efficient, experts are less optimistic it can reduce racial inequity in the system.
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