Per "Inside Mortgage Finance":
'Marina Walsh, a vice president of industry analysis at the MBA, noted that losses in the third quarter were driven by a decline in originations and elevated expenses.' WHAT? With all the RON hype, expenses were higher? We sure aren't the reason!!!
AND...get this:
"FHA increased limits on fees tied to property inspections for servicers. The limit on the fee for an initial occupancy inspection went from $20 to $30 and the limit for fees on vacant inspections went from as low as $20 to $45. FHA said the fee limits are now more closely aligned with industry standards." Nice... Inspectors got a raise. We haven't had one EVER. Tho' I also think their fees are still too low--even tho' they do it all in 10 minutes on a smartphone.
Also...tighten your belts again...because:
“MBA forecasts lower industry volume over the next two quarters compared to last quarter, which means a turnaround is unlikely until the second quarter of 2024.” (I honestly think that's optimistic, but hope it's spot on.) |
