Servicing outstanding increased by an estimated 0.3% in the first quarter. Meanwhile, Mr. Cooper Group, which recently became the largest primary servicer, boosted its portfolio by 14.6% from the end of 2023. (Includes three data tables.)
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Even though the mortgage market continued to struggle, Fannie Mae and Freddie Mac generated healthy profits in the first quarter of 2023 thanks to their business models.
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Freedom Mortgage more than doubled its production from the fourth quarter to the first. Mike Patterson, COO of the nonbank, said the growth was driven by attractive loan characteristics.
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What’s a mortgage CEO worth in a dicey origination market? According to an early read of proxy filings, some chief executives received nice pay packages last year, while others saw reductions.
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A new California bill that seeks to regulate the use of automated decision tools is facing strong opposition from the Mortgage Bankers Association and other trade groups.
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A reduction in closing costs, down payment assistance programs for first-generation homebuyers and investing in communities that need housing could all lead to more affordable housing access.
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