A proposal from FINRA to reduce the timeframe in which trades of MBS and ABS must be reported didn’t sit well with some industry participants, prompting the SEC to take a closer look at the proposal.
Servicing outstanding increased by an estimated 0.3% in the first quarter. Meanwhile, Mr. Cooper Group, which recently became the largest primary servicer, boosted its portfolio by 14.6% from the end of 2023. (Includes three data tables.)
Freedom Mortgage more than doubled its production from the fourth quarter to the first. Mike Patterson, COO of the nonbank, said the growth was driven by attractive loan characteristics.