General World News

MSR sales played a key role in nonbank profits in Q1

HW+ house money

An ebullient market for mortgage-servicing rights (MSRs) helped to buoy the profitability of at least three major nonbank lenders that are publicly traded and abated losses for a fourth, based on their recently announced first-quarter financial results.

Those lenders are UWM Holdings Corp., the parent of United Wholesale Mortgage; Rocket Companies Inc., the parent of Rocket Mortgage; Home Point Capital, the parent of Home Point Financial Corp. (Homepoint); and loanDepot — the only lender among the four to post a first-quarter 2022 loss.

Each sold off a large cache of mortgage servicing rights (MSRs) details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com