Agency MBS market recovering after dismal 2022; KBRA generally plans to decline reviewing RAC requests tied to switches from LIBOR to term SOFR in the commercial MBS market.

Nonbank lender FoA posted revenues of just $71 million in 3Q22, half of what it took in the quarter before...

The TILA-RESPA Integrated Disclosure rules require mortgage lenders to disclose prices within three days of an application. But to do so they have to rely on frequently faulty income and debt information.

Communication is key when mortgage companies face financial difficulties and potential breaches of warehouse financing covenants. Warehouse providers are looking for profitability plans for nonbanks.

The servicing side of residential finance, in particular processing fees and MSR sales, has saved many a lender from the abyss during the correction of the past year. But it hasn’t been a complete joyride. Rising personnel costs and technology expenditures are a concern.

Commercial banks continue to look sideways at the residential lending business, wondering why they should be in it at all. Some are getting out while others are scaling back significantly.

Servicers of FHA-insured loans have until April 30 to implement the revised loss-mitigation program.

In November, the former employees filed a class action accusing AmeriSave of fraud, deception and breach of contract. The lawsuit is on hold pending arbitration.

Michael Hild’s 44-month prison sentence is much shorter than the 15 years recommended by prosecutors.

The loans backing the deal have average seasoning of 12 months.