Servicing

Browse articles from IMFnews related to Servicing.

December 13, 2018 - IMFnews

Short Takes: Headed Into Receivership: Fannie and Freddie? / Politically Pragmatic / No Life in the Common / Coming Soon: A Platform Closure at Ocwen / A New 52-Week Low

Federal Financial Analytics calculates the trigger will be pulled by mid-2019.


December 13, 2018 - IMFnews

‘Small’ Mortgage M&A Deals are Getting Done, Larger Ones Remain Elusive

Mark Stafford, a principal in MS Capital Advisors, New York, said larger firms are content to stay the course…


December 13, 2018 - IMFnews

Mr. Cooper Lands New Vice Chair and CFO – for $4.3 Million a Year

Marshall has a long resume in financial services, including stays at Bank of America, The Blackstone Group and other shops…


December 12, 2018 - IMFnews

Short Takes: loanDepot Loses its Product Chief / Bill Dallas and Cloudvirga / Kudos on the Calabria Pick from HFSC Chairman Hensarling / A Candidate Himself Once? / A New Hire for Vendor Valuation Partners

Cloudvirga, at one time, was headed by industry veteran Bill Dallas...


December 12, 2018 - IMFnews

Pick of GSE Critic Mark Calabria Will Mark a New Era at the FHFA

Tom Piercy of Incenter Mortgage Advisors: “Calabria is not an advocate for our industry – but he is also being appointed by the president, who does not want housing to falter between now and 2020.”


December 11, 2018 - IMFnews

One GSE Shareholder Speaks Up: Calabria Will be Constrained in His Mission to Dissolve Fannie and Freddie

James Fenkner says Calabria will be “constrained in his mission to dissolve Fannie and Freddie.”


December 11, 2018 - IMFnews

Subservicing Sector Continues to Grow at a Steady Clip as States Act as ‘Mini-CFPBs’

Gordon Albrecht of FCI said he’s not surprised the subservicing sector is doing well “because of all the states that keep adding regulations.”


December 10, 2018 - IMFnews

Short Takes: Hope in Cash-Out Refis / loanDepot’s Refi Stats / Position Filled / Chicago-Area Lender Gets Fannie Mae Approvals / More on Calabria and the FHFA Job / Mulvaney, Mnuchin Up for the Chief of Staff Job? / Waterstone Hires Rocky (Rockwell)

Fannie Mae has approved Neighborhood Loans, Lombard, IL, as a new seller/servicer...


December 10, 2018 - IMFnews

Banks Gain on ‘Servicing for Others,’ MSR Valuations Rise

At Sept. 30, banks and thrifts serviced $3.627 trillion of residential mortgages for others…


December 7, 2018 - IMFnews

What We’re Hearing: Mark Calabria to Head the FHFA (Looks That Way) / Can Mulvaney Fix the U.S. Debt Problem? / Keeping the Debt Clock at the HFSC? / Kraninger Yes, Michael Bright No / Nomura and Ditech (More) / CMG Mortgage Hires Regency Executive / Home Point Goes All-TPO / The Midwest Mortgage Mecca

If Michael Bright is not confirmed in the current Congress, President Trump will have to re-nominate him...


December 7, 2018 - IMFnews

Lenders Face Uncertainty After Supreme Court Refuses Case

Bank of America, the nation’s fourth largest mortgage servicer, appealed the case to the Supreme Court…


December 7, 2018 - IMFnews

How to Shrink the GSE Footprint Without Having to Ask Congress To Do Anything

Want to shrink Fannie and Freddie? Cut investor loans, then move on to cash-out refis…


December 6, 2018 - IMFnews

Short Takes: Stock Market Ugly / Bring on the Cash-out Refis? / GSE Stocks Can’t Catch a Break / Carrington Readies First Non-QM MBS / New Penn Unveils New Name: NewRez

Carrington Mortgage is working on its first non-QM securitization...


December 6, 2018 - IMFnews

Its Share Pricing Sinking, Ocwen Issues Update, Says it Will Enter TPO Market, Acquire Servicing Rights

Ocwen, which paid $360 million in cash for PHH, also disclosed: “The purchase price we negotiated contemplated PHH could continue to incur losses.”


December 6, 2018 - IMFnews

Kathy Kraninger is About to Head the CFPB, but Who is She?

Observers note that CFPB nominee Kraninger has no track record in financial services…


December 5, 2018 - IMFnews

Short Takes: What’s in a Name? Answer: $300 Million / Come On, Mick! We Thought You Were Pro-Business! / $300 Million? At Least Software Firms Will Make Out / Home Flips Headed for a Fall? / Who’s Doing Your Underwriting? / Law Firm Overcharges Fannie and Pays for It

Mulvaney has a reputation of being pro-business. Is it possible he might turn the name-change ship around to save American companies $300 million?


December 5, 2018 - IMFnews

HFSC Hearing on GSE Bill Postponed. Time is Running out for Chairman Hensarling…

Some industry lobbyists believe the Senate Banking Committee hearing on GSE pilot programs will not be held this year at all.


December 5, 2018 - IMFnews

Jumbo Servicing Portfolios Largely Increasing

Shellpoint Mortgage Servicing had the highest sequential growth rate among jumbo servicers…


December 5, 2018 - IMFnews

The Mortgage M&A Tsunami May be Late This Time Around

In past downturns, large lenders and servicers were either sold outright or they joined forces with like-sized companies…


December 4, 2018 - IMFnews

Short Takes: Nomura and Ditech? / Ocwen Sets a New Low / Fannie, Freddie and NPL Sales / Citadel’s Growth in Nonprime Servicing / A New Hire for Mortgage Network

Fannie Mae and Freddie Mac continue to sell NPLs but for how long?


December 4, 2018 - IMFnews

Senate Dem Report Accuses Mulvaney of Cherry Picking the Law to Promote an ‘Ideological Agenda’

The report says that while running the agency, Mulvaney has “cherry-picked the law to promote his ideological agenda.”


December 3, 2018 - IMFnews

Short Takes: The Hearing That Keeps Getting Postponed: GSE Pilot Programs / Remembering the Financial Accomplishments of President George H.W. Bush / Too Many Servicing Workers? / Mortgage Layoffs at SoFi / Vantage Score Hires Former Fannie Executive

Under the watch of President George H.W. Bush, S&Ls were re-regulated and given a core housing mission.


November 30, 2018 - IMFnews

Seasonality and Higher Rates Spell Layoffs for Many

Mortgage recruiter Rick Glass: "Expenses are simply out of alignment. Many shops are telling me they have no more room."


November 30, 2018 - IMFnews

Mortgage Servicers in the Crosshairs of the CFPB?

“We’ve seen a number of new CIDs issued by the CFPB,” said Ben Olson, a partner at Buckley Sandler.


November 29, 2018 - IMFnews

MBA: Origination Profits Down 48.3 Percent from a Year Ago

Lenders and their warehouse providers have been openly worrying about thinning profit margins for several quarters now with liquidity a primary concern.


November 28, 2018 - IMFnews

Guaranteed Rate Buys Assets of Two Hawaii MBs. Details are Sketchy

The Chicago-based GR has been making loans in Hawaii since 2015…


November 28, 2018 - IMFnews

Newly Elected Democrat AGs Likely to Increase Enforcement

“With the turmoil at the CFPB, states are feeling that they have to fill the void,” said Daniel Suvor, counsel at O’Melveny & Myers…


November 27, 2018 - IMFnews

Banks Report Sharp Drop in Mortgage Banking Income for 3Q18

Through the first nine months of the year, mortgage banking income was up 20.9 percent from the same period in 2017.


November 26, 2018 - IMFnews

Short Takes: Steven Mnuchin Packing His Bags? / Probably Not / The Key to Administrative Reform of the GSEs: The Next FHFA Director / According to the AEI / A Promotion at Ocwen Financial

Cowen believes Mnuchin will survive the turbulence but notes the situation still poses a risk to Fannie Mae, Freddie Mac and the big banks…


November 26, 2018 - IMFnews

Ocwen Hires Former Fannie Mae Securitization Chief to Head Lending Business

According to a statement issued by Ocwen, while at Fannie Yanoti was responsible for developing the common securitization platform.


November 20, 2018 - IMFnews

Short Takes: A New 52-Week Low for Ocwen / John Britti’s Stock Awards / The Dow Swoons, Rates Fall / Freddie’s ACIS Deal / Ed Pinto Weighs in on GSE Capital / Merry Christmas, Buy a House (The Day After) / UWM Still #1 in Wholesale

Ed Pinto wants a 4.0 percent capital ratio for Fannie Mae and Freddie Mac...


November 20, 2018 - IMFnews

Largest Holders of MSRs Leave the Asset Values Unchanged

The largest gain among the 14 companies was 3.6 percent, the largest decline -5.6 percent.


November 20, 2018 - IMFnews

As Mortgage M&A Heats Up, Panorama Partners Ready to Pounce

Panorama is not new to the mortgage business. In July 2016, the Omaha-based PE firm unveiled a “significant” investment in Alterra Home Loans…


November 19, 2018 - IMFnews

Short Takes: Rates, Rates, Rates / When the Big Stock Swoon Comes / Checking In on Ditech / Mill City’s Non-Agency MBS / Illinois Branch Manager Accused of Fraud / MCT Hires Lenders One Manager

Rates were in a decline Monday morning...


November 19, 2018 - IMFnews

MIAC Hits the Market with a $7B MSR Package

Loans in the pool have an average age of 24 months.


November 19, 2018 - IMFnews

FHA Seeks to Strengthen MRB Authority

While the goal of a stronger MRB is not new, it has taken on a new urgency in discussions between HUD and DOJ...


November 16, 2018 - IMFnews

What We’re Hearing: GNMA’s Michael Bright is Taking No Chances / Ginnie Servicing is Now Worth… / Bright and the FHFA Job / The Bigger You Are… / 47 Percent of Lenders Eyeing the Non-QM Market? / Radian Gets a New Controller

A new poll being conducted by Inside Mortgage Finance/IMFnews shows that 47 percent of lenders are contemplating originating non-QM mortgages in 2019...


November 16, 2018 - IMFnews

After Cutting 400 Mortgage Workers in June, Wells Fargo Plans to Cut 900 More

Back in June, Wells trimmed 400 mortgage jobs, including 63 mortgage workers in Frederick, MD.


November 16, 2018 - IMFnews

House Power Shift May Have Little Impact on GSE Reform While Dampening Reg Relief

In a recent eight-page memo outlining her priorities, Rep. Maxine Waters did not address the conservatorships of Fannie Mae and Freddie Mac…


November 15, 2018 - IMFnews

After Cutting 400 Mortgage Workers in June, Wells Fargo Plans to Cut 900 More

The megabank currently employs 27,000 mortgage-related workers or what it calls “team members.”


November 15, 2018 - IMFnews

Short Takes: Who is Andrew Olmem and Why Does He Matter? (GSE Reform) / A Production Gain for Ditech / Citywide Home Loans Signs Partnership Deal with Stearns / Caliber Readies Nonprime MBS

If you haven’t heard of Andrew Olmem before, it’s because he tends to keep a low profile.


November 15, 2018 - IMFnews

More Red Ink for Ditech in 3Q and Another Potential Trip into Bankruptcy

Ditech said the company is in talks with “certain” corporate debt holders regarding another possible "court supervised" Chapter 11 process...


November 14, 2018 - IMFnews

Short Takes: MMIF Audit Due Thursday / Good News Expected but no FHA Premium Cut / Trades Voice Support for Kraninger at the CFPB / A Promotion at Stewart Title

The groups expressed their view that Kraninger has the ability to lead and manage the CFPB and protect the financial interest of consumers.


November 14, 2018 - IMFnews

Nonbank Profits a Mixed Affair in Third Quarter

Ocwen Financial has not been a model of prosperity...


November 13, 2018 - IMFnews

Short Takes: Assessing the Value of GSE Common / The Prior Decade and GSE Share Prices / Worrying About Home Values in California / Another MBS Settlement for Wells Fargo / Vendor Hires Fannie Mae Official

Early last decade, Fannie common once traded as high as $85.03, Freddie $68.20.


November 13, 2018 - IMFnews

Altisource’s Equator Includes a Blockchain Option in its Servicing Platform

Altisource said the tech offering provides the option for individual mortgages to be tracked as individual chains of data via blockchain...


November 13, 2018 - IMFnews

CFPB Exams Continue Apace Despite the 'Mulvaney Effect’

MBA’s Pete Mills noted that IMBs of all sizes from small to large are examined each year…


November 12, 2018 - IMFnews

Short Takes: Still Hiring, UWM / Strong Growth for the Nation’s Largest Wholesaler / The Moelis GSE Plan: the Good and the Bad / Promotions at Nations Lending

United Wholesale Mortgage continues to hire...


November 12, 2018 - IMFnews

Odds of GSE Reform May Not Have Changed Much

Gone from the Senate, via retirement, is Sen. Bob Corker, R-TN, a moderate Republican who was a proponent of reforming the secondary mortgage market…


November 12, 2018 - IMFnews

GSE Credit Box Opened Slightly Wider in 3Q18

The dollar volume of low-score purchase loans increased by 29.8 percent from the second to the third quarter, while total GSE purchase business went up 23.6 percent.


Poll

With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
No, definitely not. We view it has too risky.

vote to see results