Mortgage Servicers

Browse articles from all of our Newsletters related to Mortgage Servicers.

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 - Inside Mortgage Finance

Megabanks’ Originations Weak, MSR Values an Issue

The nation’s megabanks took it on the chin in the fourth quarter, reporting weak origination figures and non-cash writedowns on their servicing assets, according to a handful of earnings reports released this week.


January 17, 2019 - Inside Mortgage Finance

Large Nonbanks Grow Agency Servicing Share

A handful of heavyweight nonbanks ended 2018 with significant increases in their portfolios of servicing rights tied to agency mortgage-backed securities, according to an exclusive ranking and analysis by Inside Mortgage Finance.


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 - Inside Mortgage Finance

Mortgage Market at a Glance, January 18, 2019

Weekly mortgage rates and application survey data.


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.


January 16, 2019 - IMFnews

Residential Lending Declines for Both BofA and U.S. Bank

A top ten lender, U.S. Bank produced $9.1 billion of mortgages in 4Q18, a 19.1 sequential decline...


January 15, 2019 - IMFnews

Short Takes: Worrying About What Mark Calabria Might Do / Ever Seated? / A Price War Brewing in Non-QM? / Tim Anderson’s Blockchain Job / Freddie Gets a New General Counsel

We understand a bit of a price war may be brewing in the non-QM market...


January 15, 2019 - IMFnews

Consumer Complaints Up 3.8 Percent in 2018. Mortgage Gripes Tank

Companies with the most gripes filed against them were the three major credit reporting bureaus: Equifax, Experian and TransUnion...


January 15, 2019 - IMFnews

First Republic Bucks the Trend and Increases Mortgage Originations

Jumbo mortgages account for the vast majority of First Republic’s single-family production.


January 15, 2019 - IMFnews

Residential Production Down by Almost 24 Percent at No. 2-Ranked JPMorgan Chase

JPM valued its MSR portfolio at 117 basis points at the end of the fourth quarter, reducing the mark from 122 bps in 3Q18...


January 15, 2019 - IMFnews

Residential Production Falls 17 Percent at Wells Fargo, Mortgage Profits Plunge

Management blamed the lower figures on “seasonality.”


January 14, 2019 - IMFnews

Citigroup Sees Retail Residential Production Drop by Almost 15 Percent

Compared to the same period a year earlier, retail loan production fell by 23.3 percent at Citigroup...


January 11, 2019 - Inside The GSEs

IBM Sells Loan Servicing Arm Seterus to Mr. Cooper

The country’s fourth-largest subservicer, Mr. Cooper, will purchase IBM’s mortgage servicing subsidiary Seterus. The deal, expected to close in the first quarter of 2019, will give Mr. Cooper servicing rights to $24 billion in GSE mortgages as well as subservicing contracts for another $24 billion in loans. In addition, Mr. Cooper will acquire Seterus’ mortgage servicing platform.


January 11, 2019 - IMFnews

What We're Hearing: The Otting Era Commences / Waiting on the Senate (It Didn’t Work for Michael Bright) / 11 Days In and All Shook Up / HFSC Chair Worries about Furloughed Workers and Delinquencies / Keep an Eye on Jan. 15 / The Milken Institute Weighs in on ‘Administrative’ Reform of the GSEs

We’re just 11 days into the new year and already things are getting interesting in the mortgage industry...


January 11, 2019 - IMFnews

Lenders Not Liable for a Servicer’s RESPA Violation

Under RESPA, servicers are generally required to consider borrowers for loss mitigation if the servicer receives a loss mitigation application at least 37 days before a scheduled foreclosure sale.


January 11, 2019 - IMFnews

CFPB Report Raises Questions about Non-QMs, DTIs, Servicing and More

The CFPB determined the ATR rule has reduced lending to some extent to borrowers with high debt-to-income ratios…


January 10, 2019 - IMFnews

Short Takes: Who Is Maren Kasper? / Not Shy / Headed to the White House? / GSE ‘Recap and Release’ Just Got Knee-Capped / IMA Offers Bulk MSR Package

With Michael Bright's departure, GSE "recap and release" just got hurt...


January 10, 2019 - Inside Mortgage Finance

Lender Not Liable for Servicer’s RESPA Violation

Lenders are not liable for a servicer’s failure to comply with the Real Estate Settlement Procedures Act, according to a recent ruling by the U.S. Court of Appeals for the Fifth Circuit. Such claims by borrowers have seen some success in district courts and this was the first time an appeals court considered the issue.


January 10, 2019 - Inside Mortgage Finance

Optimism on Rate Decline Snuffed Out by Shutdown

The steady decline in interest rates over the past four weeks had begun to spark a tinge of optimism among mortgage bankers that 2019 might turn out to be halfway decent after all. Then the government shutdown happened.


January 10, 2019 - Inside Mortgage Finance

Seterus Deal Marks the Start of a Busy MSR Sales Season

Just days into the new year, Mr. Cooper agreed to buy Seterus and its $48.0 billion servicing platform. Now comes the big question: Which firm or portfolio is next on its hit list?


January 10, 2019 - Inside Mortgage Finance

Mortgage Market at a Glance, January 11, 2019

Weekly mortgage rates and application survey data.


January 10, 2019 - IMFnews

Acting Ginnie Mae President Michael Bright Bolts Agency for SFIG

Bright will earn significantly more working for SFIG than at Ginnie, easily doubling his salary and then some...


January 9, 2019 - IMFnews

FHA Tells Servicers to be Lenient Toward Furloughed Federal Workers and Contractors

The FHA handbook states that servicers can receive a “financial incentive” for offering forbearance...


January 9, 2019 - IMFnews

Servicing Sales to Boom in Early 2019, IMBs Need Cash

“The only way to get through that is to sell assets – and for many of them that means mortgage servicing rights,” Steve Harris of MIAC told Inside Mortgage Finance.


January 8, 2019 - IMFnews

Short Takes: $249 Million in Mortgage Payments at Risk? / Will Trump Order Fannie and Freddie to Stand Down? / Assessing Mark Calabria / Lovell Buys ATTOM / LoanLogics Hires Mortgage Tech Vet

Overwhelmingly, industry analysts expect Mark Calabria to shake things up at the Federal Housing Finance Agency – that is, once he’s approved by the full Senate.


January 8, 2019 - IMFnews

BB&T Quietly Cuts Mortgage Staff Including Correspondent Manager

The RIFs at BB&T started in December and more are expected...


January 4, 2019 - Inside FHA/VA Lending

Banking Panel Seeks FHA Loans for DACA Recipients

Democrats on the House Financial Services Committee urged the FHA to reverse its “unofficial” policy of denying Deferred Action for Childhood Arrivals status recipients access to FHA loans.


January 4, 2019 - Inside Nonconforming Markets

MBS Issuers Experimenting With Stop-Advance Feature

Issuers of non-agency mortgage-backed securities are adding more variety to the stop-advance features of the deals, leading to criticism from rating services. Industry analysts, though, said the move doesn’t necessarily create new risks. With non-agency MBS, master servicers have to advance the principal and interest due for delinquent loans. Historically, they had to make the payments if the advances were deemed recoverable, analysts at Deutsche Bank Securities noted ...


January 4, 2019 - IMFnews

Mr. Cooper to Take Control of IBM’s Seterus. Fannie a Big Client

Market sources said Seterus struggled to find new servicing clients to replace its dwindling contracts with Fannie Mae.


January 3, 2019 - IMFnews

Mr. Cooper to Take Control of IBM’s Seterus. Fannie a Big Client

Market sources said Seterus struggled to find new servicing clients to replace its dwindling contracts with Fannie Mae.


January 4, 2019 - Inside MBS & ABS

New Residential’s Stock Swoon – the Ditech Effect?

Analysts and investors are keeping a close eye on New Residential Investment Corp. these days, not because of bond market and interest rate fluctuations but because of its close ties to ailing Ditech Financial.


January 3, 2019 - IMFnews

Short Takes: The First Mortgage M&A Deal of the Year? / Mnuchin is Aware of the IRS Tax Transcript Problem / Will Government Workers Miss a Mortgage Payment? / Happy New Year from President Trump: Your Pay is Frozen / Tom Selleck Keeps Pitching HECMs / Celink Settles DOJ/FCA Claims

Celink, a servicer of reverse mortgages, has agreed to pay the federal government $4.25 million for violating the False Claims Act...


January 3, 2019 - Inside Mortgage Finance

Servicing Sales to Boom in Early 2019, IMBs Need Cash

Declining profit margins and reduced production levels will push more inde-pendent mortgage companies to sell servicing. But falling interest rates might squash MSR prices.


January 3, 2019 - Inside Mortgage Finance

Mortgage Market at a Glance, January 4, 2019

Weekly mortgage rates and application survey data.


January 3, 2019 - IMFnews

MIAC Closes $8 Billion MSR Sale. Several Auctions in the Works

Several brokerage firms are working on MSR transactions…


January 3, 2019 - IMFnews

Stratmor Sees a Strong Year for Mortgage M&A. However…

However, Steve Harris, president of MIAC Capital Markets, said he sees a weak market when it comes to “franchise” deals.


January 2, 2019 - IMFnews

Short Takes: A Government Shutdown-Related Reminder from Fannie Mae / A Fundraising Record for MBA’s MORPAC / Rising Worries, Falling Rates / Nervous / AI Gets a New (Annual) President

At press time, the yield on the benchmark 10-year Treasury was at 2.67 percent, the lowest reading in almost 12 months…


January 2, 2019 - IMFnews

PennyMac Financial Cuts New Employment Deals with Top Officers

Kurland was given an annual base salary of $900,000 from Jan. 1 of this year until Dec. 31, plus cash and equity incentives.


December 28, 2018 - IMFnews

Surprise: Production-Related Activity Saw Profit Boost in 3Q18

However, servicing income was down substantially…


December 27, 2018 - IMFnews

Short Takes: Wells Fargo Executive Takes a Job with UCM / The NAR is Not Happy with FEMA / No Word From Peter Bell and NRMLA / Fannie Mae Director Haywood Moves On / Trouble in the Sandbox

The National Association of Realtors is none too happy with FEMA's actions during the government shutdown...


December 27, 2018 - IMFnews

Lion Point Capital Declares 50 Percent Stake in Ditech

The investment banking firm Houlihan Lokey has been fielding offers for Ditech…


December 26, 2018 - IMFnews

Dems Select Rep. Waters as the First Woman Chair of the HFSC, Mulvaney Put on Notice

Rep. Waters to Mick Mulvaney: “I am writing to inform you that while your time running the Consumer Bureau may be over, the time for accountability for your actions is about to begin.”


December 21, 2018 - IMFnews

What We’re Hearing: The Senate Waiting Game and Mark Calabria / What Might Mnuchin Come Up With? / Otting and Mnuchin and One West / Angelo Mozilo Makes it Rain Once More / MorVest’s MSR Auction / George Bailey Lives (A VA Story) / A Short Publishing Break

The news of Otting’s appointment and what might transpire afterwards did nothing to boost the share price of Fannie and Freddie common...


December 21, 2018 - IMFnews

As Expected, OCC Chief Otting Tapped by White House to be Interim FHFA Director

Joseph Otting will be joining the Trump administration's "two-hat" club...


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