The supply of home mortgage debt outstanding grew for the second consecutive quarter during the final three months of 2014, eking out a slim 0.1 percent gain from the end of September. The Federal Reserve late last week reported that $9.862 trillion of 1-4 family mortgage debt was outstanding at the end of last year. It may not sound like much, but it marked the first time since ... [Includes one data chart]
The volume of mortgage-servicing right transfers is expected to continue growing in 2015, perhaps hitting as high as $500 billion, according to experts attending the MSR conference sponsored by Information Management Network this week in New York. Although the focus in recent years has been on the advance of nonbank servicers, observers agree that banks will remain a major force in the industry. The wild card in the MSR market is ... [Includes one data chart]
For the past five years, the IBM-owned Seterus has been Fannie Mae’s “go-to” guy when it came to default management servicing, especially in regard to short sales, but the company’s future looks cloudy as problem loans run off the government-sponsored enterprise’s books. At the end of 2014, Seterus serviced roughly $27 billion of residential loans, according to data compiled by Inside Mortgage Finance. At one time, sources say, the company serviced at least ...
A key organization of state banking regulators will soon release a proposed framework for nonbank mortgage servicers, though how it is finally implemented is still up in the air. The Conference of State Bank Supervisors has put together a regulatory framework that covers 12 areas of servicing and is close to being issued for public comment, said Michael Stevens, senior executive vice president of the group, during a panel session at a mortgage servicing conference ...
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