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The only rational strategy for holding MSRs is to be very aggressive on protecting the servicing assets via loan recapture. This is one of the chief reasons that banks have been willing to give up their share in lending and servicing as they collapse back to retail-only lending strategies.

U.S. homebuilder optimism rose to a record in September, with low mortgage rates driving a housing boom that has boosted the pandemic economy.

Dennis Beresford was chairman of the Financial Accounting Standards Board from 1987-1997 and was previously national director of accounting standards at Ernst & Young. He is currently an executive in residence at the J.M. Tull School of Accounting at the University of Georgia. In 2004 he was elected to the Accounting Hall of Fame and received the AICPA Gold Medal for distinguished service. In 2006 he was selected as one of the inaugural inductees of the Financial Executives International Hall of Fame.

Jill R. Shah is a reporter at Employee Benefit News and Employee Benefit Adviser. She can be contacted via email at jill.shah@arizent.com.

Mortgage applications decreased 2.5% from one week earlier as refinance activity appears to decelerating, according to the Mortgage Bankers Association.

The deal brings yet another mortgage origination component under the same roof.

Frank Scott is the mayor of Little Rock, Ark.

Francis X. Suarez is the mayor of the City of Miami.

Loan applications for new homes have staged a remarkable turnaround this year after falling 25% month-over-month and 12% year-to-year due to the coronavirus' impact in April.

The number of homes sold in metro Baton Rouge, La., was 11.2% higher in August than the year before, continuing a hot streak triggered by low interest rates.