Although the short end of the yield curve picked up in July, mortgage rates actually dropped, causing a decline in value for some mortgage servicing rights, according to MIAC.MIAC said the July drop in MSR values "slightly eroded some previous MSR gains." The New York-based company said there has been increased activity in the market for servicing rights, with several notable transactions occurring recently. MSR values on agency, 30-year portfolios declined by 4.10% between July 1 and Aug. 1, according to MIAC. (A Generic Servicing Assets table, which represents MIAC's opinion of the market value of various MSR assets, appears every business day on the Mortgage Servicing News website.)
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
3h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
5h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
5h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
7h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
8h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18