Last year's pendulum swing in loan purpose toward the purchase-money market yielded a significant increase in the share of agency business with primary MI coverage. And a larger share of insured business layered heavy debt burden with lower credit scores. (Includes three data tables.)
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Banks, nonbanks and consumer advocates have major concerns about a proposal to adjust capital requirements for large banks. The proposal would touch on mortgage lending, MSRs and warehouse lending.
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According to an early read, banks suffered double-digit home lending declines in the final lap of 2023 even though rates fell by at least 80 bps.
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Servicing values slipped in the fourth quarter, a victim of lower interest rates from mid-October to yearend. Hedging helped, but weaker escrow values played a role as well.
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The mortgage industry this week lamented the passing of Dave Stevens, who held several key jobs in residential finance, including both regulator and trade group CEO.
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Department of Housing and Urban Development Secretary Marcia Fudge called on Congress to increase housing supply through preservation efforts, financing incentives and other means.
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By automating its biennial review system, the FHLBank regulator has dramatically reduced the number of member institutions that are inadvertently omitted from community support reporting.
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