Interest Rates, Mortgage Lenders & MSRs

February 15, 2024 | Premium Service | In this issue of The Institutional Risk Analyst we delve into the world of interest rates and residential mortgage credit as Q4 2023 earnings conclude. The largest residential mortgage issuers had decent quarters, though mostly due to servicing income and falling leverage. Treasury Secretary Janet Yellen frets about the systemic risk from nonbank servicers, but the chief challenge for the industry is a lack of new loan origination volumes, high financing costs and a dwindling group of bank lenders.

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