Mortgages

Home price overvaluations over 10% are easing in some markets, analysts say, but RMBS investors are still cautiously tightening liquidity amid uncertainty.

The offering comes amid an ongoing wave of private and public MSR sales.

Brian O'Shaughnessey's latest venture, Imperial Bancorp, LLC, is set to secure licensing in the next four to six months, when he expects that "spreads and interest rates will tighten and loans will be worth more."

The Philadelphia-based company will eliminate an undisclosed number of jobs as part of a plan to refocus on core business lines and markets, CEO Thomas Geisel said.

Meanwhile, the average purchase loan amount surged to its highest level in 2023, showing signs of continued demand amid limited inventory.

All told, Icahn's fortune sank by an unprecedented 41% to $14.6 billion, according to the wealth index, dropping him from the world's 58th-richest person to the 119th.

Although the company reported a loss, executives expressed confidence in its funding and liquidity.

Housing costs increased at the slowest pace in over a decade nationwide, even while monthly growth now exceeds its pre-pandemic level.

Consumers are receiving demand letters on loans they have not had any communication about in at least 10 years, the regulator said.

Conventional and government-backed purchases both increased last week, even with a 12 basis point surge in the 30-year conforming average, the Mortgage Bankers Association said.