Rithm Capital posts a profit in the third quarter as it prepares for the acquisition of Specialized Loan Servicing early next year.

The new proposed capital requirements could reduce LMI lending by large banks and make warehouse financing expensive for nonbanks.

Trade groups representing large banks and mortgage lenders warn that a July proposal to increase capital requirements for large banks could push depositories further from the mortgage market.

MCT and Mr. Cooper teamed up on a white paper explaining the nuances of co-issue MSR sales.

Some experts expect MSR trading to top $1 trillion in each of the next three years, surpassing the approximately $900 billion traded in 2022.

Second-level GSE MBS issuance involving excess spread from servicing increased in 2022. Private-equity firms and real estate investment trusts are among the investors buying excess servicing.

Tracking the movement of MSRs amid declining originations.

MSR sales hit a record in 2022 and even more sales are expected both this year and in 2024. The jump in supply is presenting investors with attractive opportunities.

Bids for MSRs are declining, prompting worries among some sellers. Those holding servicing also face the possibility of an increase in delinquencies and advancing responsibilities.

The nonbank share of GSE servicing peaked early in 2022. Later in the year, large banks regained some share. (Includes two data charts.)