Blogs

This blog contains the MCT MSR team's knowledge and insight into all MSR news right now. Read on to learn about the MSR market in this current climate. Mortgage rates and most indices remained volatile during the month of March. However, mortgage rates managed to close the month at about the same level as of 3/31, while float income rates increased by about 14 bps by 4/30. Mortgage production remained weak during April, but there were signs of a slight increase in production compared to March levels due to mortgage rates declining early in April. Market values for existing MSR portfolios also remained relatively flat during April. Bulk MSR market values ...

Mortgage rates and most indices remained volatile during March. However, mortgage rates managed to close the month at the same level as of 2/28, while float income rates declined by about 39 bps by 3/31. Mortgage production remained weak during March, however, second mortgage and HELOC loan production both increased during the same period. Market values for existing MSR portfolios also remained relatively flat during March. Bulk MSR market values have finally edged higher during February and March and are closing the gap with portfolios’ Fair Values. This was a significant shift after weakness in the MSR bulk market during Q4, 2022. Current market values ...

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By Julie Piepho, Principal, BlackFin Group When I work with companies and ask them about core values, one of them is always - they will give great customer service. But, when I ask them to define great customer service, it then becomes a hard brainstorming session of what that truly looks like! Can it be quantified so both internal and external customers can see it and you as the leader can verbalize it and measure it? I just returned from a trip to Thailand where I could say the customer service was superb! Every individual, when you walked by them, no matter their position in life, would put their hands in the prayer mode and do a tiny bow. Everyone. ...

March 5, 2023 By Keith Kemph, President & CEO, BlackFin Group If you haven’t already, it’s time to shake off 2022 and build your plan back to profitability in 2023. Reflecting on this year’s IMB conference in San Diego, I was quickly reminded how in past years the conference was generally flush with high energy and optimism. IMB’s actively meeting with counterparties, strategizing, and negotiating. Intensely focused on setting the stage for another amazing year ahead. However, this year the conference took a slightly different tone as I was asked to speak on a panel titled, “Tough Times, Tough Conversations” (investors and counterparties). During ...

By Andrew Weiss – Partner, Technology Practice at BlackFin Group These days, no one needs convincing that technology is an integral part of the Mortgage Origination process. The phrases I hear most when talking to Clients about their experiences when choosing and implementing technology for their Origination Platform is something like; “Can’t live with it; can’t live without it,” “It’s always a horror show”, or “I only have one more of those projects left in me, during my career.” Yes, there ‘is’ a reason that when you go to the big Mortgage conferences, there are always just as many Technology Vendors as there are Lenders. The question remains, can ...

February 17, 2023 Throughout 2023 mortgage lenders and servicers will be buying and implementing new technology at a record pace. Whether your team is looking for a new Servicing System, a Point of Sale, a CRM, or Loan Origination System – buyer beware! The software market is in a significant state of flux. During 2023 mortgage technology buyers will need to go into each new software acquisition with ‘eyes-wide-open.’ Fully informed, educated, and aware of the – traps, pitfalls, and challenges with each purchase consideration. Between recent acquisitions, pending mergers, continued downsizing, major leadership changes that will impact a provider’s ...

February 13, 2023 by Julie Piepho, CMB, Principal at BlackFin Group Here we are, 45 days into the middle of the year, and the housing cycle doesn’t appear to be any more promising than on January 1. We continue to have high inflation, shortage of housing inventory, higher interest rates than this time last year, the refinance business has all but disappeared, and mortgage leaders are looking to build sustainable mortgage teams in 2023. Right sizing has been happening within mortgage companies (and other non-financial services companies, i.e., Amazon, Google) for the last 2 quarters and are still happening this quarter. It seems however, ...

February 3, 2023 By Keith Kemph, BlackFin Group, President & CEO Mention the word consultant and for some folks, the first thought that comes to mind are the “Bobs” from the famous 1999 movie, Office Space . “You have to interview with this consultant. They call them efficiency experts. But what you’re really doing is interviewing for your own job.” While this caption may certainly be the role of a consultant from time to time, layoffs are the not the primary reason to bring consultants into your organization. Consulting engagements for our clients generally range from assisting with M&A, strategy, selection, and implementation, or ...

https://www.blackfin-group.com/post/is-now-the-time-to-invest-in-a-new-mortgage-origination-platform By Andrew Weiss – Partner, Technology Practice at BlackFin Group It is no secret the Mortgage Origination business has hit a tough patch. Total originations this year are expected to be just over $2 Trillion, 50% of the 2020 high. Refi’s are way down from the historic highs of 2020 with 2023. Refi’s projected to be only one fourth their previous volume. Layoffs and major companies pulling back from the market have been splashed all over the news. So, with that backdrop, is it time for Lenders to invest in new technology to make their Origination ...

By Luana Slettedahl, Principal at BlackFin Group In December, Fannie Mae announced significant changes to requirements of an Approved Seller/Servicer where in 2023 Sellers must sell 12 loans to Fannie Mae and Servicers must service 1 loan. (For further details please refer to Fannie Mae’s Website.) This is one of the most important decisions your leadership team makes NOW – “The Clock is Ticking,” Many lenders have gone through the approval process and yet for a variety of reasons have a current business model that does not include selling directly to Fannie Mae and are in an Inactive Status; if you fall into this category you need to evaluate ...