The market for mortgage servicing rights has some unusual dynamics, one panelist at the Mortgage Bankers Association’s Secondary and Capital Markets Conference said Monday. “It used to be that the bulk market wouldn’t even be attractive on an execution level if there was a billion or more. Now you’re seeing very small trades of a […]
Unusual MSR trends emerge as the market shifts Read More »
While some policymakers have long pushed to release Fannie Mae and Freddie Mac from government conservatorship, experts caution that a return to full privatization would be far from a fairy tale. Panelists Tuesday at the Mortgage Bankers Association’s Secondary & Capital Markets Conference weighed the many downsides of the complicated, and increasingly unlikely move if
‘Don’t fix what’s not broken’: experts mull cons of GSE exit Read More »
For mortgage originators, the push to become a “one-stop shop” and build lasting client relationships has taken on new urgency in light of current market pressures. “We really want to be able to meet the clients where they’re at,” Heather Lovier, chief operating officer at Rocket said during a panel discussion at the Mortgage Bankers
Rocket, CMG push towards one-stop-shop mortgage model Read More »
Dan Thompson, chief executive of mortgage servicing management firm PMSI, numbers among industry veterans who managed mortgages during and prior to the Great Financial Crisis, so he’s seen worst-case scenarios and worked to help the industry avoid them since. The instances where exceptions from common servicing procedures were used averaged around 1% in 2024, which
PMSI’s CEO on why servicers can’t ignore low exception rates Read More »
Zillow will begin a “phased rollout” of its listing access standards policy, which bans publicly marketed listings not entered into the MLS, on May 28. In a blog post on Tuesday, Zillow offered agents some clarifications and guidance on its new policy and how it will be implemented. “Publicly marketed listings should be entered in
Zillow will begin banning noncompliant listings on June 30 Read More »
ERS Real Estate Group, the residential arm of Omaha, Nebraska-based Elite Real Estate Systems LLP, is making the move to eXp Realty, according to an announcement on Tuesday. Founded by Jeff Cohn and Renee Mueller, the team has 53 agents and closed 575 transaction sides for $170 million in sales volume in 2024. ERS Real
eXp welcomes top-producing team in Nebraska Read More »
Housing issues for U.S. veterans continue to be a major topic of conversation among housing advocates and lawmakers. Despite Monday’s passage of a bill to establish a partial claim option for veterans, some are still calling for the reinstatement of the Veteran Affairs Servicing Purchase (VASP) program. VASP was started last year under the Biden
Despite new veteran partial claim bill, some advocates call for VASP revival Read More »
Mortgage rates rose in the past week, but even as they remain close to 7%, there’s little evidence to suggest they’ll move much higher and further constraint housing affordability. On Tuesday, 30-year conforming rates averaged 6.93% while 15-year conforming rates averaged 6.76%, according to HousingWire’s Mortgage Rates Center. In comparison, these figures stood at 6.88%
Mortgage rates remain close to 7%, but there are positives for housing Read More »
The government-sponsored enterprises (GSEs) have been under the conservatorship of the federal government since the 2008 financial crisis, and for some time now many in the mortgage industry have thought this should end. But what is the goal of ending the conservatorships for Fannie Mae and Freddie Mac? GSE reform was up for debate at
What’s the goal of ending the Fannie and Freddie conservatorship? Read More »
Rocket Companies, traditionally known for its call center model, is diversifying its channel strategy amid its deals to acquire Redfin and Mr. Cooper, according to Chief Operating Officer Heather Lovier. “When we think about how we’re diversifying, obviously, Rocket is very consumer-direct — we have our direct-to-consumer channel. But we’re also diversifying in the field
Rocket has regionalized consumer direct channel Read More »