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Lenders Seek Fresh Income Streams in Rocky Market

As rising rates crush mortgage activity, lenders have been turning toward other ways of generating revenue. So reports Yahoo Finance.

Homepoint2 150x150Nonbank lenders such as United Wholesale Mortgage, Home Point, Rocket Mortgage and loanDepot have been selling mortgage servicing rights portfolios and gaining some ready cash.

Buyers of MRS portfolios, too, including Mr. Cooper, have benefited as their values rise. Meanwhile, lenders have also been cutting costs by ending credit lines that were used to fund originations.

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