Roger that Mordi... have always enjoyed your input on this board!! I agree with your comment about a lack of understanding by the market regarding MSR's.
I also believe the banks are seeing a measurable softening of people who are requesting loans or refi's because most people are on a limited fixed income and therefore MUST control their fixed expenses... adding 75bps to a loan for them can often kill the idea of a refi and/or moving up in the housing market. Just my two cents...
Someone on the board seems to think it was a planned event……which is funny in it self….we just need the corporate structure revealed and boom coop will be the tell…