Servicing

Browse articles from IMFnews related to Servicing.

February 15, 2019 - IMFnews

What We’re Hearing: Calabria, a Sure Bet? / Warm Thoughts About Fannie-Freddie Loan Limits / Retaining More Capital / Congress? / Conservatorship Purgatory / Looks Like Radian is in Play / A Sale Dragging On and On and On: Genworth / Industry Vet Rudy Orman Lands

On the doorstep: The recap and release of Fannie and Freddie?


February 15, 2019 - IMFnews

HomeStreet Bank Looks to Sell Mortgage Origination Business, MSRs

The Seattle-based depository hired Keefe, Bruyette & Woods and MountainView as sale advisors…


February 15, 2019 - IMFnews

Redwood Cites Strong Competition in the Non-Agency Market

Redwood President Dashiell Robinson said demand for whole loans remains strong...


February 13, 2019 - IMFnews

Short Takes: A Nice Month for Pershing Square / No Mention of the GSEs / A Mortgage-Related M&A Deal Drags On / Delayed by the Chinese New Year / A New MBS From Deephaven / Pavaso Hires Mortgage Tech Vet Tim Anderson

After two-plus years of waiting, the Genworth deal has yet to close...


February 13, 2019 - IMFnews

Mortgage Jobs Grim with Selected Pockets of Hope

But not all conventional lenders are handing out pink slips these days...


February 12, 2019 - IMFnews

Short Takes: GSE Junior Preferred Shareholders Could Get Paid / Wedbush Tells Investors to Take the Cash / New Rez Sees a Buying Opportunity in MSRs / CFPB to America: Save Some of That Tax Return!

Bove sees some type of compensation going to the preferred shareholders of Fannie and Freddie...


February 12, 2019 - IMFnews

A Tiny 4Q18 Profit for New Residential

New Rez continues to gobble up MSRs like there's no tomorrow...


February 12, 2019 - IMFnews

The 4Q18 Tally: Banks Report Sharp Drop in Mortgage Banking Income

Much of the mortgage earnings damage took place at the top…


February 11, 2019 - IMFnews

Short Takes: Exiting a GSE Investment / The Fed Likely Will Greenlight the BB&T-SunTrust Merger / No. 9 / Please, Just Don’t Pick a Name Like Mr. Cooper / How Much Lower Can Ditech Go? / CoesterVMS?

The big unknown about the merger: Once completed, what name will the new bank and mortgage company take?


February 11, 2019 - IMFnews

PennyMac Bucks the Trend, Increases Originations in 4Q18

Most of PennyMac's production entails correspondent acquisitions from primary market originators, a strategy that typically carries lower profit margins...


February 11, 2019 - IMFnews

It’s Official: Ditech Readies Second Trip Into Bankruptcy, Seeks to Eliminate $800M of Debt

Ditech revealed that "any and all bids" for the company or its assets will be evaluated...


February 8, 2019 - IMFnews

What We’re Hearing: Salivating at the Prospect of a Fannie-Freddie Stock Offering? / Mulvaney Again / Waiting in the Wings for Treasury’s GSE Assignment? / What Could Stand in the Way? / MI Roundup / Wells Fargo, the MBS King / A New Legislative Hire for MBA: Tallman Johnson

But one thing is certain: the Trump White House is not monkeying around with GSE reform...


February 8, 2019 - IMFnews

Bill Introduced to Install an Independent IG at the CFPB

Currently, the bureau shares an inspector general with the Federal Reserve...


February 8, 2019 - IMFnews

Calabria’s FHFA Nomination Hearing Set for Feb. 14

Calabria has firm support among Republicans on the SBC and the backing of Senate Minority Leader Mitch McConnell...


February 7, 2019 - IMFnews

Short Takes: Hoping and Praying for the Right GSE Outcome / Contemplating a Settlement by the Government / Setting the Table for a Merger / #9 Mortgage Dream: SunTrust-BB&T Deal / IMA’s Bulk MSR Deal

Open hostility toward the government's GSE case?


February 7, 2019 - IMFnews

BlackRock’s Stake in Ocwen Financial: 6.3%. Meaning?

Ocwen would like to buy mortgage servicing rights once again, but…


February 7, 2019 - IMFnews

A Mortgage Giant in the Making? BB&T, SunTrust Set Merger

Once the merger is completed, the combined institution will rank ninth, just ahead of AmeriHome Mortgage.


February 6, 2019 - IMFnews

Nonbanks Dominate in Bulk MSR Sales, A Stunning Reversal for Ginnie Transfers

In years past, Ginnie MSR sales have lagged because of concerns tied to agency acknowledgement agreements…


February 1, 2019 - IMFnews

What We’re Hearing: Craig Phillips, the ‘Ax’ / What We Talk About When We Talk About GSE Reform / Next Up: Meetings on Capitol Hill / Time for Treasury to Hire an Investment Banker? / Keeping an Eye on loanDepot / More VC Money for Better Mortgage

And some point, it stands to reason that the U.S. Treasury Department would hire an investment banking firm with a specialty in Washington matters to assist in a recap and release plan…


February 1, 2019 - IMFnews

Sen. Crapo Releases GSE Reform Outline. Is it DOA?

Under the Crapo plan, the multifamily business of Fannie and Freddie would be sold to the highest bidder...


January 31, 2019 - IMFnews

Trump Political Operative Named FHFA Chief of Staff

The appointment is effective February 4...


January 31, 2019 - IMFnews

Otting’s Appointment at FHFA May Be Illegal

Should the White House have picked one of three deputy directors instead?


January 31, 2019 - IMFnews

Mortgage Servicing Market Grew More Top Heavy Late Last Year

Wells Fargo, the nation’s largest home lender and servicer, saw its MSR portfolio shrink by 1.6 percent on a sequential basis…


January 30, 2019 - IMFnews

White House Issues Statement on GSE Reform, Says it Will Work with Congress

The White House: “Housing finance reform is a priority for the administration … At this time, no decisions have been made on any reform plan. As part of the process, however, the administration will work with Congress…”


January 30, 2019 - IMFnews

Court Rules Fannie Is Not a Credit Reporting Agency

In the Zabriskes’ case, the foreclosure was a short sale that had been miscategorized…


January 29, 2019 - IMFnews

Short Takes: Is the Party Over for GSE Common? / A Bubble Bursting on Shareholders / The King of MSR Buys: New Residential / Cleveland Rocks (for New Home Owners), Pittsburgh and OKC Too / Freddie Gets New Chairperson

New Rez’s MSR haul: $50.9 billion of agency product...


January 29, 2019 - IMFnews

Mortgage Gripes Filed with the CFPB Fall to a New Low

Servicing practices attracted the most mortgage-related complaints, accounting for almost half, Inside the CFPB found…


January 29, 2019 - IMFnews

Freddie MBS (Servicing) Grew Faster Than Fannie Sector in 2018

And although trendlines varied significantly among the top-ranked processors, the overall migration of GSE servicing to nonbanks continued last year.


January 28, 2019 - IMFnews

Short Takes: Rep. Waters Wonders: Is Otting Legal? / An End-Run? / Cowen on Calabria’s Chances / The Fed Gets a New Director of Research


January 28, 2019 - IMFnews

Incenter Offers Flow Ginnie Mae Package

The loan flow will be top heavy with California mortgages…


January 28, 2019 - IMFnews

Wells Fargo: Lenders Struggling with Overcapacity, Low Demand

Keefe, Bruyette & Woods: “The issue of overcapacity in the industry appears to be persisting…”


January 28, 2019 - IMFnews

Agency MSR Transfers (Sales) Up a Solid 13.9 Percent in 2018

The three most active sellers of bulk MSRs: Stearns Lending, United Wholesale Mortgage and loanDepot, according to exclusive figures from Inside Mortgage Trends…


January 25, 2019 - IMFnews

House Banking Chair Waters Wants Answers from FHFA’s Otting on His GSE Reform Plans

In mid-January, in a speech to FHFA staffers, Otting vowed to make administrative changes to the GSEs but offered no time table or details...


January 25, 2019 - IMFnews

What We’re Hearing: The Coming War Over Administrative Reform of the GSEs / Trust in (MBS) Traders / Congress Committed to Legislative Reform / Predictions Can be Difficult / At Least Bill Ackman is Happy / JPMorgan Now #4 in Mortgage Lending

Pershing Square CEO Bill Ackman should be a happy man these days. His investment in Fannie and Freddie is now in the black...


January 25, 2019 - IMFnews

CFPB’s Enforcement Chief Departs for Job in the New York AG’s Office

The NYAG's division of economic justice consists of six bureaus, including one protecting consumers from fraudulent, deceptive practices.


January 25, 2019 - IMFnews

New Rez Ready to Kick Ditech to the Curb on Subservicing Contract

In a new 8-K filing, Ditech said that on Jan. 17 it received a termination notice from New Residential...


January 24, 2019 - IMFnews

CHLA Anxious About What Ginnie Mae Might Do

CHLA adds that “enhanced” supervision should focus on Ginnie Mae's largest issuers...


January 23, 2019 - IMFnews

Short Takes: Amazon Interested Still? / MBA Reduces Origination Forecast / GOS to Widen? / Annaly Readies Non-Agency MBS / Ellington Weighs in on REIT Conversion / Existing Home Sales Decline / Promotions and New Hires at MGIC and Closing Corp

MBA reduces its origination forecast for 2019, ever so slightly...


January 23, 2019 - IMFnews

MountainView Offering a $12.2B Ginnie MSR Package, Other Dealers Active As Well

A large nonbank based in Texas is believed to be the seller of the $12.2 billion package…


January 22, 2019 - IMFnews

Flagstar Sees Residential Originations Plummet

Flagstar CEO Alessandro DiNello: “Our mortgage business was softer than we expected."


January 22, 2019 - IMFnews

FHA/VA Default Rates Edge Higher

The serious delinquency rate was a different story…


January 22, 2019 - IMFnews

Government Shutdown Impedes Ginnie Liquidity Letters, More

Ginnie Mae hasn’t had a permanent president it two years. It may never have one in the Trump administration...


January 18, 2019 - IMFnews

What We’re Hearing: GAO Worries About Fannie & Freddie / The Return of Jeb Hensarling / Top-Ranked Nonbank Enters the HELOC Market / Quicken Courts the Refi Market / Eddy Perez to Head MORPAC / Take Our Salary Survey

The title of the new GAO report says it all: The Prolonged Conservatorships of Fannie Mae and Freddie Mac...


January 18, 2019 - IMFnews

Megabanks’ Originations Weak, MSR Values an Issue

Publicly traded nonbank giants, including PennyMac and Mr. Cooper, have yet to report results, but there’s nothing to suggest these shops will fare much better…


January 17, 2019 - IMFnews

Mortgage Employment Falls to 10-Month Low

Conventional lenders will have a tougher time of it this year...


January 17, 2019 - IMFnews

Short Takes: A Landmark Non-QM MBS from Angel Oak / Better Mortgage Sees Furloughed Government Workers and Comes Up with a Product to Serve Them / Retail Declines at BB&T / Seterus Hands Out Pink Slips to 300 / MGIC’s Results / MBA Promotes Knowlton

The Seterus platform will cut 300 full-time workers in the Durham area. The unit is being sold to Mr. Cooper...


January 17, 2019 - IMFnews

Ditech Gets a Breather from Its Note Holders (For Now); COO Terminated

Ditech also terminated the employment of Chief Operating Officer Ritesh Chaturbedi.


January 17, 2019 - IMFnews

Nonbanks Significantly Increase Agency Servicing Market Share

Eighth-ranked Mr. Cooper also had huge quarter in MSR growth…


January 16, 2019 - IMFnews

Short Takes: Mr. Cooper Cuts Jobs in California / Blackstone’s Finance of America Unit Will Close Roseville Office / loanDepot Courting Wells Fargo LOs? / Freshman Socialist Will Sit on the HFSC / A New Hire for Nations Lending

Socialist Rep. Alexandria Ocasio-Cortez, D-NY, will sit on the House Financial Services Committee, which oversees banking, mortgages, as well as Fannie Mae and Freddie Mac.


January 16, 2019 - IMFnews

Ginnie Mae Postpones Annual Summit, Citing Government Shutdown

Scheduled speakers included Housing and Urban Development Secretary Ben Carson, Kasper and Edward DeMarco, former acting Director of the Federal Housing Finance Agency.


Poll

Do mortgage lenders really need a new credit-scoring model or is the current FICO system adequate?

It’s fine. Stick with what works.

53%

Time for a change. Borrowers are different today.

35%

Undecided, still assessing the situation.

12%