The nation’s subservicing specialists increased their contracts by a modest 4.4 percent on a sequential basis in the second quarter of 2015, a sign that many originators would rather outsource the nitty-gritty chore of loan processing to others instead of doing it in house. Compared to the same period a year earlier, subservicing grew a more impressive 20.5 percent to $1.410 trillion, according to exclusive survey figures compiled by Inside Mortgage Finance. The increasing complexity and compliance cost of servicing make...[Includes one data table]

Apprehension and uncertainty were palpable among industry representatives meeting in Washington, DC, this week over how the Consumer Financial Protection Bureau views marketing services agreements and how it plans to deal with them in the future. David Stevens, president and CEO of the Mortgage Bankers Association, urged the bureau to provide formal, specific guidance during the trade group’s regulatory conference this week. “We sent...

Bond investing giant PIMCO has quietly purchased First Guaranty Mortgage Corp., Frederick, MD, for roughly $50 million, gaining a toehold into an industry it has been carefully eyeing for well over two years now. The acquisition – confirmed to Inside Mortgage Finance by several sources – comes roughly three months after the company pulled out of talks with RoundPoint Mortgage, the nation’s 24th largest servicer. PIMCO – formally known as Pacific Investment Management Co. – has tried...

Ocwen has so many workers in India that it hedges its risk against the currency there, the Rupee.

For many investors it has boiled down to this: They’ve had enough and they want out.

All of the servicing rights being auctioned off are currently being subserviced by Cenlar.

“It was a great channel for some time, but the competitive landscape is expanding rapidly,” said one executive at the company.

Ginnie Mae defines “inactivity” as 18 months of dormancy. At least 50 issuers meet that definition...

The former FHA commissioner noted that: “We’ve seen that before – when enforcement does replace regulation..."

Meanwhile, the MBA chief – and his members – were caught off guard by Tozer’s comments about nonbanks and servicing transfers.