MSR buyers believe that there will be plenty of supply of the asset this year as mortgage originators face difficulties from high interest rates. UWM, the largest lender in the industry, is willing to sell if the price is right.
All but one of the top 10 GSE sellers delivered a higher proportion of mortgages to Freddie Mac than Fannie Mae in January. (Includes two data tables.)
At its current pace, by the end of March Mr. Cooper Group will have overtaken Chase Home Finance as the largest GSE server. (Includes two data tables.)
Trump has nominated Bill Pulte to be director of the Federal Housing Finance Agency; Fitch upgrades master servicer rating on Mr. Cooper; new ABS issuer.
An affiliate of Proprietary Capital won some significant rulings this week in a lawsuit against Mr. Cooper. The dispute involved early buyouts from Ginnie Mae MBS.
Investments in technology are helping Mr. Cooper reduce its servicing costs and allowing the industry’s largest servicer to place competitive bids on servicing portfolios.