The GSEs have slowly been losing share in the servicing market since March 2022. In the second quarter of 2024, Ginnie Mae and the non-agency sector gained more servicing share. (Includes two data tables.)
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The Federal Reserve announced a 50-basis-point reduction in the federal funds rate this week. Interest rates on mortgages have come down by more than that in recent weeks in anticipation of the Fed’s move.
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At mid-year, Cenlar remained the largest subservicer in the land, but growing one’s book of contracts is getting more challenging. Meanwhile, PennyMac Financial wants to be a significant player. (Includes data table.)
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More than a week after a Fed official outlined a planned re-proposal to adjust capital requirements for large banks, industry participants are still waiting for the formal document.
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Borrower demand for home equity loans is expected to continue even as interest rates decline. Meanwhile, nonbank lenders are working to compete with depository institutions for the production.
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The CFPB has 30 days to amend its complaint against Loan Originator Services as part of a fair lending lawsuit filed against a Texas-based developer and lender, Colony Ridge.
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