Although total GSE servicing remained almost unchanged as of the end of the second quarter, some large servicers — mostly nonbanks — experienced disproportionate year-over-year gains in volume. (Includes two data tables.)
Deliveries to Fannie and Freddie rose last month even as the GSEs’ market share is the lowest since the global financial crisis. (Includes two data tables.)
Mortgage loan acquisitions by Fannie Mae and Freddie Mac accelerated in April, driven in part by a jump in refinance lending. (Includes two data tables.)
Rocket’s pending acquisition of the nation’s largest subservicer is making some MSR owners consider a subservicer that isn’t owned by Rocket. Mr. Cooper isn’t giving up, with plans for additional growth.
The nonbanks took negative marks on their large holdings of mortgage servicing rights as hedges didn’t fully offset a decline in interest rates on mortgages during the first quarter.
Waterstone Financial relents on defense against poaching allegations; Mr. Cooper takes loss on sale of Flagstar’s third-party originations unit; legal expenses rise at Mr. Cooper.