Great insight Brent. And, you haven't even begun to dig into the current markets for MSRs. It looks like there is a record imbalance of supply and demand for MSRs (too much supply). That will likely put pressure on the market value of MSRs which would be well below their modeled DCF. MSRs might sound like a topic that are only really meaningful to large institutional investors and the biggest of the IMBs but they have a direct impact on correspondent and wholesale pricing. 2023 is going to get interesting.
Great insight Brent. And, you haven't even begun to dig into the current markets for MSRs. It looks like there is a record imbalance of supply and demand for MSRs (too much supply). That will likely put pressure on the market value of MSRs which would be well below their modeled DCF. MSRs might sound like a topic that are only really meaningful to large institutional investors and the biggest of the IMBs but they have a direct impact on correspondent and wholesale pricing. 2023 is going to get interesting.