PennyMac booked a weak increase in servicing income due to a large loss tied to hedges for MSRs; First American’s CEO doesn’t expect the CFPB’s effort on lender’s title insurance to change much.
A substantial slowdown in bulk sales of Fannie/Freddie servicing led to the lowest secondary market volume for agency MSRs since the third quarter of 2020. (Includes three data tables.)
Delinquency rates were down for all three government agencies and in every late payment category during the early months of 2024. (Includes data table.)