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Inside Mortgage Finance

April 18, 2024

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Primary MI Volume Fades in 1Q24 Agency MBS Market

Refinance volume was up across the board in first-quarter agency business, but the sharp spike in VA activity caught the most attention. (Includes three data tables.) Read More

Freddie Wants to Buy Closed-End Seconds

Critics argue the new second mortgage program is another attempt by Freddie Mac to expand its footprint. But GSE insiders say it’s already allowed under its charter. Read More

Originations Down Nearly 40% in 2023; Few Lenders Spared

United Wholesale Mortgage was the largest lender in 2023. Only 19 of the top 100 lenders increased their production during the year. (Includes data table.) Read More

VA Secretary Defends VASP at House Oversight Hearing

VA Secretary Denis McDonough pledged to be transparent with lawmakers on the new VA loss-mitigation program. He said congressional oversight will strengthen performance of the program. Read More

MSR Prices at Peak for Year as Buyers Line Up

Originators hate rising interest rates for the impact it has on production, but owners of servicing rights and their dealmakers couldn’t be happier. One benefit in today’s market: MSR bid prices are strong. Read More

Megabanks Report Weak 1Q Mortgage Results

The malaise surrounding residential lending continued in the first quarter. The expectation is that nonbanks will continue to snatch market share from the big boys, but profitability will remain elusive. Read More

Timing for Expected Cut to Interest Rates Pushed Back

Mortgage rates are higher than economists expected them to be because inflation and other data are coming in at unexpected levels. The missed projections aren’t surprising, according to Chase’s Jamie Dimon. Read More

MBA Pushes Back on FCRA Requirements for Lenders

Industry trade groups in a joint amicus brief argued that credit furnishers don’t need to investigate legal disputes under FCRA. Read More

High Interest Rates Boost Investor Home Purchases

The investor share of home purchases hit an all-time high in December. Read More

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