National Mortgage Professional, Jan. 30, 2023–David KrechevskyFairway Independent Mortgage Corp., one of the nation’s largest lenders, said Monday it is reorganizing its reverse mortgage channel.https://nationalmortgageprofessional.com/news/fairway-overhauls-its-reverse-mortgage-channel
Category: Top National News
Investment Properties Dominate 4Q EC MBS Issuance
Inside Mortgage Finance, Jan. 30, 2023–Brandon IveyIssuers of expanded-credit mortgage-backed securities shifted strategies, to some extent, in the final three months of last year, according to a new ranking and …
US Offices Reach 50% Occupancy for First Time Since Pandemic Hit
Bloomberg, Jan. 30, 2023–Matthew BoyleMore than half of workers in major US cities went to the office last week, the first time that return-to-office rates crossed 50% of their pre-pandemic …
IMBs See Choppy Waters Ahead for MSR Sales. At Issue: Too Much Supply
Inside Mortgage Finance, Jan. 27, 2023–Brandon IveyAs profitability tied to originations plummeted in 2022, many lenders opted to sell mortgage servicing rights to generate cash, and there were plenty of …
2023 Unlikely to Bring a Large Wave of CRE Distress, Predicts Walker & Dunlop Exec
Wealth Management Real Estate, Jan. 24, 2023–Buck WargoThe potential for recession in 2023 is creating further unease for many real estate investors, while still opening up new opportunities for some …
Loan Modifications at GSEs Dropped, But Signs of Early Distress Emerge
National Mortgage News, Jan. 24, 2023–Spencer Lee (subscription)Foreclosure-prevention activity dropped for the sixth time in seven months in October for Fannie Mae and Freddie Mac-backed loans, but signs of early-stage …
In 4Q22, loanDepot and UWM Were Busy ‘Transferring’ MSRs
Inside Mortgage Finance, Jan. 24, 2023–Paul Muolo and John Bancroft (subscription)For all of 2022, UWM transferred $98.8 billion of bulk MSRs, more than any other nonbank.https://www.insidemortgagefinance.com/articles/226809-in-4q22-loandepot-and-uwm-were-busy-transferring-msrs?v=preview
MBA: Rate Of Mortgages In Forbearance May Have Hit Bottom
National Mortgage News, Jan. 24, 2023–David KrechevskyForbearance rate has been flat for 3 months, a sign “we may have reached a floor on further improvements,” the Mortgage Bankers Association reported.https://nationalmortgageprofessional.com/news/mba-rate-mortgages-forbearance-may-have-hit-bottom
Freedom CEO: Plenty of Value in MSRs, For Now…
Inside Mortgage Finance, Jan. 25, 2023–Brandon Ivey (subscription)Stan Middleman cautioned that MSR values and liquidity could tumble in the coming years, potentially in 2028.https://www.insidemortgagefinance.com/articles/226814-freedom-ceo-plenty-of-value-in-msrs-for-now?v=preview
Libor Is Still Due to Die, but Companies May Use Extensions
Wall Street Journal, Jan. 25, 2023–Mark Maurer (subscription)Companies that have yet to switch over from the London interbank offered rate before a June phaseout deadline may have ways to hang …