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Rising rates, tax questions driving MSR sales surge

[ad_1] An offering of Fannie Mae and Freddie Mac mortgage servicing rights (MSR) linked to a loan pool valued at nearly $2.2 billion is now being marketed by the Prestwick Mortgage Group on behalf of an undisclosed independent mortgage banker, according to a bid document obtained by HousingWire.  The offering is yet another sign that the MSR market is continuing to heat up as the final quarter of the year unfolds. Bids for the $2.2 billion MSR package are due by Oct. 26, documents show. George Christo, executive vice president of Virginia-based Prestwick, declined to comment on the offering or to disclose the identity of the seller.  The MSR offering involves a loan pool of 4,201 Fannie Mae loans with an unpaid principal balance of $1.15 billion and 3,661 Freddie Mac loans with a total unpaid principal balance of slightly more than $1 billion. All 7,862 of the loans in the MSR loan pool are fixed rate with a weighted average interest rate of 3.001% and an average loan balance of $275,146, according to the bid documents.  This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Rising rates, tax questions driving MSR sales surge appeared first on HousingWire. [ad_2] Source link

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Sales of existing homes rose in September, likely due to a brief decline in mortgage rates – CNBC

[ad_1] Sales of existing homes rose in September, likely due to a brief decline in mortgage rates  CNBC US existing home sales rebound in September, rise 7%  Yahoo Finance Gold price remains under pressure following 7% rise in U.S. existing home sales  Kitco NEWS U.S. existing home sales surge to 8-month high in September  Reuters Existing home sales surge as interest rates point higher  WIVB.com – News 4 View Full Coverage on Google News [ad_2]

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Obstacles to tech adoption & the question of appraisal bias

[ad_1] During a panel on residential appraisals, experts posed technology as a way to make appraisals more efficient and less subjective, as regulators take steps to understand and counteract bias. But tech adoption in appraisal might face an uphill climb. Appraisers themselves — and the regulatory standards they are held to — stand in the way of tech adoption, said Lyle Radke, director of collateral policy at Fannie Mae, during a panel hosted by the Mortgage Bankers Association. “Appraisers are not PhDs in mathematics,” Radke said. “They’re never going to be able to really articulate how a complex model works.” This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Obstacles to tech adoption & the question of appraisal bias appeared first on HousingWire. [ad_2] Source link

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