Most of the companies that grew their owned servicing significantly in 2023 tapped a vibrant secondary market in bulk agency MSR. (Includes three data tables.)
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The MBA is taking its concerns about rising costs associated with obtaining credit scores to the FHFA, CFPB and FTC. A CFPB official said the regulator is willing to consider looking into the issue.
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Five Democrats in the Senate wrote to the Fed this week pushing for a reduction in interest rates. The senators made their case by citing high costs for mortgages and a limited supply of homes for sale.
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Mortgage REIT Two Harbors hopes to save a ton of money by servicing its $215 billion-plus MSR portfolio in house. It also wants to be a major player in the subservicing arena and is building an origination platform to protect against a refi wave.
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Not every mortgage company can issue unsecured notes at a decent price, but a handful of larger shops can, especially if they own a ton of servicing rights.
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