Originations of purchase mortgages with primary MI coverage fell slightly in the first quarter, but the spike in refi activity, especially in the government market, more than made up the difference. (Includes four data tables.)
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The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.
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Changes in loan characteristics for new acquisitions and new capital requirements combined to reduce the “profitability gap” for GSE business in 2022.
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When mortgage bankers think of megabanks selling MSRs, Wells Fargo comes to mind. But U.S. Bank is selling servicing rights as well. Its latest sale: a $15 billion package of GSE rights.
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New York Community Bank’s new leadership has plans to return to profitability. It’s not clear how residential mortgages fit into those plans.
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Lenders continue to make bulk purchases to offset runoff in their portfolios and make up for anemic originations. However, demand for MSRs could be near a peak, according to industry analysts.
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If you’re looking for signs of hope in a difficult mortgage market, a source of inspiration might be the debt values of certain lender/servicers.
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