Nonprofits Seek FHA Data on Reverse Mortgage Foreclosures at Steve Mnuchin’s Former Bank. Two nonprofit groups have submitted a Freedom of Information Act request regarding Financial Freedom’s history of reverse mortgage foreclosures. Financial Freedom is a reverse mortgage service owned previously by Steve Mnuchin, President Donald Trump’s nominee for U.S. Treasury Secretary. The two groups, California Reinvestment Coalition and the Jacksonville Area Legal Aid, Inc., have asked the FHA for data on Home Equity Conversion Mortgage foreclosures. The data request includes the number of HECM foreclosures in each state by the industry as a whole, and by Financial Freedom since April 2009, as well as the number of spouses who have invoked FHA’s option to remain in their homes after the death of their borrower spouse. NY Governor Announces Plan to Protect Seniors from ...

The nation’s largest banks revealed better-than-expected residential origination figures (for some) and mouth-watering markups on the value of their servicing portfolios. That’s the good news. But it wasn’t all wine and roses. On the servicing front, BOK Financial revealed that fourth quarter income was reduced by $17.4 million because it left servicing-related hedges on the books for too long, betting that rates would stay low for an extended period of time. PNC Bank saw...[Includes one data table]

Antonio Weiss, counselor to the secretary of the Treasury Department, cautioned that any reduction to the corporate tax rate could prompt a draw from Treasury funds by the GSEs.

Nonbank servicers have a particularly big footprint in the Ginnie market, accounting for 53.6 percent of servicing outstanding at Dec. 31…

Late last year, RPM made what it called an “investment” in American Eagle Mortgage of Ohio…

The delinquency rate on the package is just 0.65 percent, based on number of loans…

BB&T saw residential loan production decline in the fourth quarter while its servicing portfolio fell by less than 1 percent.

Early in its existence, IndyMac was a nonbank and had been grub-staked by Countrywide Financial...

The evolution of the agency mortgage-servicing market isn’t over, though it appears to have settled into a long-term transition by attrition. At the end of 2016, depository institutions serviced some $3.584 trillion of single-family home loans committed to mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. That was down 1.0 percent from September, a period during which the supply of agency MBS debt outstanding was growing. The depository share of agency MBS servicing fell...[Includes two data tables]

The Trump administration is expected to put a temporary freeze on the 25 basis point cut in FHA annual premiums that is scheduled to take effect Jan. 27. One industry source noted: “On Jan. 20, President Trump will be issuing an executive order that freezes all past actions over a certain period of time. The FHA premium reduction gets swept into this.” Sources told...