Capital markets

Among the mortgage industry investors in the product and pricing engine provider are Movement Mortgage and First American Financial.

The company will leverage its diversified consumer-finance model while optimizing a traditional mortgage business with thinner margins as the business cycle turns, CEO Patti Cook said.

Due to the rollback in stimulus and uncertainties related to other mortgage policy measures and rates, servicers are moving into uncharted waters, according to a Fannie Mae economist.

The change aims to streamline the processing of certain pandemic-related loan options that accommodate lower monthly payment amounts for borrowers with long-term economic hardships.

The researchers found that the disparities that emerged from the analysis of 1.8 million appraisals from 2019 and 2020 were statistically significant.

Home valuation professionals have had mixed feelings about automation out of concern that some forms could result in less accurate assessments.

The equity commitment by M&G Investments adds to signs that the MSR market is heating up as mortgage rates rise and some buyers have become more confident in their prepayment rate projections.

In a Senate confirmation hearing, the acting Federal Housing Finance Agency director echoed her predecessor’s view that restructuring of Fannie Mae and Freddie Mac should fall to Congress, and pointed to measures aimed at mitigating risk for the agencies.

The portfolio of MSRs from three types of government-related loans has a particularly large California concentration, and could be sold on a component basis, according to the Mortgage Industry Advisory Corp.

December was the fifth month out of the last six in which credit conditions loosened, the Mortgage Bankers Association reported.

The change reflects a growing focus on an emerging banker segment that sells loans to the company on a non-delegated basis and includes a greater focus on servicing retention.

The loans in the portfolio on offer have nearly 11 months of seasoning, indicating they were amassed during a loan production boom that has contributed to higher average servicing deal sizes.

The Duty-to-Serve goals currently under review drew some objections from a coalition of affordable housing groups last year.

The government-sponsored enterprise also unveiled two new tranche slices for investors to purchase.

The company plans to hire an unspecified number of people in servicing as a result of the shift, with a particular focus on recruiting people for “customer-facing” positions.

The metric’s imminent end after more than 40 years means servicers need to put replacement plans in motion if they haven’t already.

The new leader, who officially joined the government mortgage-bond insurer on Jan. 3, is the first Senate-confirmed holder of the post in close to five years.

Mortgage performance in November was improving, coming close to crossing a key threshold for pandemic-era recovery, but Omicron raises questions about whether that trend will continue.

Average per-loan charges last year were little changed despite the addition of a new temporary fee for refinancing. Those for loan-to-value ratios above 80%, home-purchase financing and adjustable-rate mortgages only rose slightly.

The government-sponsored enterprise has 45 days to submit a plan on how it intends to meet the increased target for 2022 through 2024.