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Volume 2019 - Number 3

January 17, 2019

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Large Nonbanks Grow Agency Servicing Share

A handful of heavyweight nonbanks ended 2018 with significant increases in their portfolios of servicing rights tied to agency mortgage-backed securities, according to an exclusive ranking and analysis by Inside Mortgage Finance.

Megabanks’ Originations Weak, MSR Values an Issue

The nation’s megabanks took it on the chin in the fourth quarter, reporting weak origination figures and non-cash writedowns on their servicing assets, according to a handful of earnings reports released this week.

Supreme Court Rejects CFPB Constitutionality Case

The U.S. Supreme Court Monday refused to hear a case challenging the constitutionality of the Consumer Financial Protection Bureau, turning away a legal challenge that could have led to more presidential power over the consumer watchdog.

More GSE Forbearance for Federal Employees?

As the record-long government shutdown nears the one-month mark, rumors are flying that Fannie Mae and Freddie Mac may ask servicers and lenders to offer more forbearance to furloughed federal employees.

GSE Patch Fate Undecided Despite Its Importance

Uncertainty over the future of the so-called GSE patch — which the Consumer Financial Protection Bureau says helped Fannie Mae and Freddie Mac vastly boost mortgage market share — has industry watchers worried.

Fannie and Freddie Common On a Bull Run – to Nowhere

Right before Christmas, Fannie Mae and Freddie Mac common stocks were in the dumps, trading in the over-the-counter market at a mere $1.08 and $1.07 apiece, respectively. But since then, the two have been on a gallop, rising by roughly 70.0 percent each.

First-Time Homebuyers Face Many Hurdles, Survey Shows

Most non-homeowners would like to purchase a house, but many cannot qualify for a mortgage, a survey by the National Association of Realtors showed.

A Week After Bright’s Exit, Ginnie Delays Annual Meet

Ginnie Mae announced that its 2019 annual summit scheduled for Feb. 4 and 5 in Washing-ton, DC, has been postponed, a casualty of the ongoing government shutdown. The announcement came midweek — and on the last day of service for acting President Michael Bright.

Mortgage Market at a Glance, January 18, 2019

Weekly mortgage rates and application survey data.

Poll

Do mortgage lenders really need a new credit-scoring model or is the current FICO system adequate?

It’s fine. Stick with what works.
Time for a change. Borrowers are different today.
Undecided, still assessing the situation.

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