Benzinga, Feb. 3, 2022–Phil HallThe Mortgage Bankers Association’s Market Composite Index, which measures home loan application volume, jumped by 12% for the week ending Jan. 28 compared to one week …
Category: Top National News
Get Ready for Non-QM’s Biggest Year Yet
Mortgage Professional America, Feb. 2, 2022–Allen MeigideThe Mortgage Bankers Association (MBA) is forecasting that purchase originations are expected to grow 9% to a new record of $1.73 trillion in 2022 …
Watchdog: FHFA Wanted to Pay Exec $250K ‘Bonus’
HousingWire, Jan. 31, 2022–Georgia Kromrei (subscription)Last March, then-Federal Housing Finance Agency Director Mark Calabria wanted to pay a Fannie Mae executive a $250,000 “bonus,” under the guise of a retention …
An Earnings Plunge for loanDepot. Servicing Write-downs Too
Inside Mortgage Finance, Feb. 1, 2022–Paul MuololoanDepot, the first of the nonbank mortgage bellwethers to report fourth quarter results, saw net income plunge 90.5% in the October-December period, blaming the …
Loan Mod Volume Climbs as Forbearance Exits Continue
DSNews, Feb. 1, 2022–Eric C. PeckThe latest U.S. RMBS Servicer Metric Report examining the Q3 of 2021 from Fitch Ratings has found that non-prime loan modifications surged as forbearance plans …
A Gargantuan Year for MSR Transfers But a Downturn in 4Q21
Inside Mortgage Finance, Jan. 31, 2022–John BancroftThe secondary market in agency mortgage servicing rights rebounded strongly in 2021, especially in bulk transactions, according to a new Inside Mortgage Trends analysis.https://www.insidemortgagefinance.com/articles/223653-a-gargantuan-year-for-msr-transfers-but-a-downturn-in-4q21?v=preview
2022 ‘Probably Going to Be One of the Worst Years in Mortgage Banking’
Mortgage Professional America, Jan. 31, 2022–Richard TorneAnd with companies facing a more competitive market, the expectation is there’ll be lower profit margins and ‘industry consolidation’, a nice sounding euphemism used …
How the Fed’s Plans for Its Portfolio Could Affect Mortgages
National Mortgage News, Jan. 27, 2022–Bonnie Sinnock (subscription)“The principle that they would like to return to a balance sheet that is primarily Treasuries at some point hints at some additional …
Heavy Refi Activity Drives CLO Issuance to New High
Inside Mortgage Finance, Jan. 28, 2022–John BancroftIssuance of collateralized loan obligations and collateralized debt obligations in 2021 exceeded the combined production of the three previous years, according to a new …
U.S. Housing Market Now Valued At $6.9 Trillion
Benzinga, Jan. 28, 2022–Phil HallThe U.S. housing gained a record-breaking $6.9 trillion in value during 2021, according to new data report from Zillow Group Inc. That is nearly double the …