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Inside Mortgage Finance

October 24, 2024

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Originations Increase in Third Quarter, a Rarity

Mortgage originations typically decline from the second quarter to the third. This year, however, declining interest rates helped increase refinance production and prop up purchase-mortgage lending. Read More

MSR Values Take a Hit in 3Q With Declining Interest Rates

Holders of mortgage servicing rights marked down the assets at the end of September amid a decline in interest rates. Lower rates reduce the value of MSRs by incentivizing refis. Read More

As Yearend Approaches, MSR Sales Remain Tepid

This year will yield fewer sales than the two previous years but those were aberrations. Small MSR portfolios are available, but nothing in the “mega” $10 billion range. Read More

UWM Pushes New Refi Product as Rising Rates Slow New Applications

The new offering allows for a cash-out refi with an LTV ratio near 90% without borrower-paid mortgage insurance. Read More

Trade Group Calls for Sanctions on FICO

CHLA lauds Democrats in Congress for urging the Biden administration to investigate Fair Isaac for anticompetitive activities. Read More

DOJ Sues Rocket, Appraisal Entities for Discrimination

A Black borrower alleged that Rocket Mortgage canceled her refinance application after she repeatedly requested that her home appraisal be revised because it was discriminatory. Read More

Parent of Non-QM Lender Acra Considers IPO

HPS Investments, which owns nonprime originator/servicer Acra Lending and more, is toying with an IPO. Acra is a small part of what HPS owns, but it would open up the lender to public disclosures. Read More

Industry Calls for Bringing Back Tax Deduction for MI

A broad cross-section of the industry supports legislation that would reinstate, make permanent and expand eligibility for the mortgage insurance premium tax deduction. Read More

Debate Persists Over Role of FHLBank in Housing Market

Affordable housing and community development advocates say taxpayers aren’t getting enough for the government subsidy of the FHLBanks. The FHLBanks say critics misunderstand their federal support. Read More

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