With the credit crisis-including a dearth of warehouse financing-beginning to ease, there are new signs that the buyers of freshly originated mortgages are becoming less stingy on what they pay for loans sold "servicing released." According to Glen Corso, managing director of the Community Mortgage Banking Project, a month ago servicing-released premium prices hit an all-time low. But lately, prices have improved. His nonbank members are reporting an improvement due to rising rates. "One member told me that the improvement came at a time when the increase in mortgage rates from below 5% to above 5% took place," said Mr. Corso, who heads up the fledgling trade group. (For more details see the Monday print edition of National Mortgage News.)
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