|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!!!
"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.)